Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of Uzbekistan has become a member of the International Operational Risk Working Group (IORWG), according to a statement from the regulator’s press service.

This membership will allow the bank to exchange experience with leading central banks worldwide in the field of operational risk management and improve its risk management system in line with international standards.

Founded in 2005 and coordinated by the Bank of Spain and the Federal Reserve Bank of Philadelphia, IORWG brings together 125 regulators, including other central banks from Central Asia.