Monetary and Credit System of Uzbekistan

Authors

  • Oydin Davronovna Khamrakulova PhD in Economics, Associate Professor, Samarkand branch of Tashkent State University of Economics
  • Jakhongir Abdullaev Student, Samarkand branch of Tashkent State University of Economics

Keywords:

monetary and credit system, Uzbekistan, Central Bank, banking reform, economic growth, inflation targeting, digitalization.

Abstract

The article is devoted to the analysis of Uzbekistan’s monetary and credit system, including its historical development, current state, and future prospects within the framework of the “Uzbekistan – 2030” Strategy. The study examines the key stages in the formation of the banking system, the role of the Central Bank in regulating monetary circulation and implementing monetary policy, as well as recent achievements and challenges. Special attention is given to the digitalization of financial services, the growth of the banking sector, and support for the real sector of the economy. The analysis is based on statistical data, official documents, and expert assessments.

References

Central Bank of the Republic of Uzbekistan. History of the banking system. https://cbu.uz/ru/about/history/.

Central Bank of the Republic of Uzbekistan. The concept of development and implementation of monetary policy in the medium term. https://cbu.uz/ru/monetary-policy/concept/.

International Monetary Fund (IMF). Reports on the state of the economy of Uzbekistan. https://www.imf.org/en/Countries/Uzbekistan.

Omonov A. A., Koraliev T. M. Textbook "Money and Banks". Tashkent: "Iqtisod-Moliya", 2018. ISBN 978-9943-13-705-3.

National Statistical Committee of the Republic of Uzbekistan. Statistical data on the economy. https://stat.uz/ru.

The goal and principles of monetary policy. Central Bank of the Republic of Uzbekistan. https://cbu.uz/ru/monetary-policy/concept/.

About the Central Bank of the Republic of Uzbekistan. Lex.uz. https://lex.uz/ru/docs/4590456.

Expert RA. Overview of the banking market of the Republic of Uzbekistan. https://raexpert.ru/researches/banks_uzb_2024/.

Strategy "Uzbekistan – 2030". Online portal "Uzbekistan – 2030". https://uzbekistan2030.uz.

Monetary policy. Central Bank of the Republic of Uzbekistan. https://cbu.uz/ru/monetary-policy/.

Central Bank of the Republic of Uzbekistan. The goal and principles of monetary policy. https://cbu.uz/ru/monetary-policy/concept/.

Decree of the President No. UP-158 of 11.09.2023 "On the Strategy 'Uzbekistan – 2030'". Lex.uz. https://lex.uz/docs/6614608.

Malikova D. M., Mambetova R. Z., Suleimanova A. A. The role of monetary policy of Uzbekistan in ensuring sustainable economic development. https://newjournal.org/new/article/download/7132/6868/10455.

Expert RA. Overview of the banking market of the Republic of Uzbekistan. https://raexpert.ru/researches/banks_uzb_2024/.

Law "On the Central Bank of the Republic of Uzbekistan." Official website of the Central Bank of the Republic of Uzbekistan. https://cbu.uz.

Decree of the President No. UP-158 of 11.09.2023 "On the Strategy 'Uzbekistan – 2030'". Lex.uz. https://lex.uz/docs/6614608.

Information on monetary policy. The goal and principles of monetary policy, Central Bank. https://cbu.uz/uz/monetary-policy/goals-and-principles/.

Strategy "Uzbekistan – 2030". Online portal "Uzbekistan – 2030". https://uzbekistan2030.uz

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Published

2025-04-25

How to Cite

Oydin Davronovna Khamrakulova, & Jakhongir Abdullaev. (2025). Monetary and Credit System of Uzbekistan. American Journal of Technology Advancement, 2(4), 71–77. Retrieved from https://semantjournals.org/index.php/AJTA/article/view/1590

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