Tashkent, Uzbekistan (UzDaily.com) — On 22 July, the Legislative Chamber of the Oliy Majlis submitted an official parliamentary inquiry to Timur Ishmetov, Chairman of the Central Bank of Uzbekistan. The inquiry was prompted by issues identified during the monitoring of the implementation of the Strategy for Reforming the Banking System and Privatizing State-Owned Assets in the sector.

Sharofiddin Nazarov, a member of the Committee on Budget and Economic Affairs, presented the report. He noted that despite the declared goal of reducing state involvement in the banking sector, its share remains high.

In particular, the privatization of stakes in major state-owned banks such as Uzpromstroybank, Asaka Bank, and Aloqabank is progressing at a very slow pace. The business models of these banks remain heavily focused on corporate clients, while the non-bank financial sector remains underdeveloped. Lawmakers also highlighted the low levels of digitalization and innovation across banking services.

According to the strategy, the share of assets held by state-owned banks was supposed to decrease to 60% by 2025. However, as of 1 July 2025, it still stands at 35%. Additionally, new banking infrastructure is mostly concentrated in Tashkent and regional centers, leaving rural areas with limited access to financial services.

Parliamentarians also raised concerns over the rising number of bank card fraud cases, underlining the urgent need for modern security systems and stronger information protection measures within the banking sector.

In this context, the committee submitted several questions to the Central Bank, including:

– the pace and scope of transformation in state-owned banks;
– measures to improve loan portfolio quality and risk management;
– development of remote banking services for individuals and small businesses;
– anti-corruption measures in the distribution of preferential loans.

The inquiry will be reviewed through official procedures, and lawmakers expect detailed answers and actionable proposals to improve the country’s banking system.