Uzbek President Shavkat Mirziyoyev has signed a decree on improvement of activities of the Central Bank of Uzbekistan (CBU), according to Ferghana news agency.
The decree, in particular, provides for establishment of divisions for protection of interests of depositors and creditors as well as the service for protection of rights of service consumers.
The decree reportedly also sets up new references for the CBU activities, reorganizes part of the bank divisions and imposes restrictions on work with commercial banks.
Stability of prices and stability and development of the banking and payment systems are outlined as strategic goals.
The decree also outlines improvement of the monetary-credit policy, development of analytical and research bases, implementation of a complex of measures on strengthening financial sustainability of non-bank financial institutions and protection of rights and interests of consumers as the priorities of the CBU activities.
Uzbek central bank is prohibited from participating in authorized fund of managing companies, investment companies and funds as well as in non-profile banking activity of economic entities.
The Central Bank of Uzbekistan, officially the Central Bank of the Republic of Uzbekistan, is the country's national bank.
The Central Bank of the Republic of Uzbekistan represents a centralized control system. For the performance of assigned tasks it creates the appropriate services and establishments, which work on the basis of rules confirmed by the Board of the Central Bank.
The structure and bodies of management of the Central Bank are determined by the Law “On the Central Bank.” The supreme body of the Central Bank is the Board of the Central Bank. The Board consists of 11 members and is headed by the Chairman who is, at the same time, Chairman of the Central Bank.
