Tashkent, Uzbekistan (UzDaily.com) — The leadership of the Central Bank of the Republic of Uzbekistan held a meeting with representatives from the largest international auditing firms, known as the ‘Big Four’: KPMG, Deloitte, Ernst & Young, and PricewaterhouseCoopers.

The meeting focused on discussing the prospects for the development of the country’s financial sector.

The Central Bank presented its initiatives aimed at:

• Further development of the financial sector: Strategic directions for development were discussed, including digitalization, enhancing competitiveness, and increasing the resilience of financial institutions.
• Improving the accessibility of banking services: Special attention was given to expanding access to financial services for the population and small and medium-sized businesses.
• Strengthening research potential: The Central Bank proposed creating a permanent platform for joint research and developing recommendations for improving the financial sector.

Representatives from the ‘Big Four’ shared their experience and expertise, presenting information on projects implemented in other countries. They also provided suggestions on priority measures for the development of Uzbekistan’s financial sector and expressed their readiness to actively cooperate with the Central Bank in implementing the proposed initiatives.

This meeting reflects the Central Bank of Uzbekistan’s commitment to drawing on international experience and best practices to develop the country’s financial sector. The creation of a joint research platform is expected to become an effective mechanism for formulating and implementing policies aimed at sustainable growth and increased accessibility of financial services.