Banking Legislation of the Republic of Uzbekistan: Practice and Reforms

Abstract

This study analyzes the content and effectiveness of the reforms initiated in Uzbekistan’s banking system
since 2019, based on Law No. O‘RQ-580 of the Republic of Uzbekistan dated November 5, 2019, “On Banks and
Banking Activity”. Through the analysis of major financial institutions such as Aloqabank, Ipoteka Bank, Poytaxt Bank,
and SQB, the study examines capital adequacy, compliance with international standards (including Basel III), and the
level of transparency. Particular attention is given to the challenges faced by smaller banks, weaknesses in credit risk
management, and the need for stronger regulatory oversight. Practical recommendations are proposed to enhance
financial stability and deepen global integration.