Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan plans to speed up the process of privatization of state-owned banks, Gazeta.uz reports, citing the words of Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan Jamshid Kuchkarov.

On Tuesday, the Ministry of Economy and Finance held a discussion on the implementation of the presidential decree of March 4 on priority measures to implement reforms in 10 main areas in 2024.

Kuchkarov noted that the authorities are focusing on accelerating the sale of state shares in two large state-owned banks, with the goal of achieving a 60% share of the private sector in the banking system by the end of 2025.

He also said on work to accelerate the privatization of Uzpromstroybank, noting a meeting with representatives of Rothschild & Co on this issue.

Jamshid Kuchkarov also announced plans to sign an agreement with the EBRD on preparing Asakabank for privatization in May.

The Deputy Prime Minister announced the preparation of a new privatization program, which will be approved in the coming days.

The government of Uzbekistan plans to work together with the Central Bank and the Presidential Administration to introduce Islamic finance in the country.

Jamshid Kuchkarov expressed hope for cooperation with the Islamic Development Bank on this issue and plans to hold a round table in July or September to expand work in this direction.