The code was developed in order to strengthen business cooperation and create conditions for fair competition in the banking community of Uzbekistan.

The code determines main norms of ethics of behavior, which should be adhered by the employees of the banks.

Execution of requirements to business and professional ethics at rendering services to clients, including to small and private businesses, their officials and employees, will serve as additional guarantee, evidence and pledge for their professionalism and reliability, compliance of their activities to the legislation of Uzbekistan, as well as commonly accepted moral-ethical norms.

The code said that the banks and their employees should fully adhere to legislation of Uzbekistan, professional ethics, moral-ethic norms and traditions. They should respect rights and interests of their clients, including small and private businesses. They should also avoid red-tape at rendering services.

The banks and their employees should implement their liabilities and ensure high quality of services and take into account risks at conducting transactions. They should also compete and actively participate in fighting legalization of income, received via crime and other illegal activities.

The code sets liabilities of the bank and their employees before their clients, shareholders and employees. It also sets business and out-work ethics, business etiquette for the employees of the banks.

The document said that the banks can be excluded from the Uzbekistan Banking Association for the violation of the code, while the employees will be punished by the banks.