Reform efforts driving Uzbekistan’s financial sector development

In recent years, the banking sector of Uzbekistan has been undergoing a number of reform efforts aimed at improving the availability and quality of financial services, something important for sustained economic growth. The main priorities have been on the further development of payment systems, strengthening the financial stability of credit organizations and increasing the availability of banking services. This has led to Uzbekistan becoming one of the more promising countries for investment as well as the country accomplishing nearly a decade of development in only a few short years. Moreover, the country is primed to adopt even more innovative solutions in the near future such as biometric solutions for consumer authorization. In short, Uzbekistan is poised to jump from underdeveloped to being an early adopter of new and innovative financial sector solutions.