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Uzbekistan expands banking service infrastructure

Finance Materials 12 August 2020 12:44 (UTC +04:00)
Uzbekistan expands banking service infrastructure

BAKU, Azerbaijan, Aug. 12

By Ilkin Seyfaddini - Trend:

Uzbekistan significantly increases the number of banking service centers in 2020, Trend reports citing the Central Bank of Uzbekistan.

Commercial banks were given permission to organize banking service centers throughout Uzbekistan and conduct their activities in accordance with legislation on August 12, 2019, and Uzbekistan created more than 600 banking service centers as of August 12, 2020.

“Banking service centers are set up to save customers' time and create conditions for banking operations at the nearest office without visiting remote banking offices, as well as to ensure popularity and demand for banking services among the population,” the message said.

At present, work is underway to increase the number of such centers, as well as to simplify and enhance the convenience of their services.

Earlier, the Central Bank of Uzbekistan has signed agreements with International Finance Corporation in the field of development of digital financial services and financial literacy.

The main purpose of these projects is to increase the financial accessibility of financial services for the population.

The agreements are also aimed at improving the regulatory environment for the development of electronic and digital financial services and implementation of programs to improve financial literacy.

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