Uzbek Central Bank and Saudi Delegation Discuss Fintech

Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of the Republic of Uzbekistan hosted an official meeting with a delegation from the Kingdom of Saudi Arabia. The event took place on the sidelines of the Fifth Tashkent International Investment Forum. The Saudi delegation was led by the Director General of the Investment Promotion Authority, Khaled Alhattaf.

From the domestic side, the negotiations were attended by the Chairman of the Central Bank Timur Ishmetov, his deputy Abror Mirzo Olimov, and heads of relevant departments of the regulator.

At the beginning of the meeting, the foreign partners praised the comprehensive reforms implemented in Uzbekistan. It was noted that the consistent steps taken by the leadership of the republic to improve the investment climate, modernize the financial sector, and stimulate the digital economy open wide prospects for foreign capital.

The main block of negotiations was dedicated to synergy in the field of financial technologies and the expansion of the digital payments ecosystem.

The parties conducted a detailed exchange of views on the regulation of the electronic wallet market, the study of advanced international practices, as well as regulatory, legal, and licensing requirements imposed on fintech companies.

Special interest was drawn to a presentation of the experience of the Saudi company Barq FinTech. The meeting participants examined in detail its technological approaches to the development of digital wallets, the processing of domestic and international remittances, and the implementation of B2B payment solutions for commercial enterprises and service providers.

In turn, the management of the Central Bank acquainted the guests with the key development vectors of the local fintech market.

Representatives of the regulator spoke about the development of a critical document: the National Fintech Development Strategy for 2026–2030. The Saudi side was also presented with the opportunities of the domestic regulatory "sandbox" for testing innovations, the operational activities of the Innovation Hub, and existing acceleration programs for fintech startups.

At the conclusion of the meeting, the parties outlined a plan for further actions. They discussed the potential business model of Barq FinTech, the strategy for its possible entry into the market of Uzbekistan, and options for cooperation with local partners within the framework of current legislation.

The Central Bank expressed full readiness to organize additional rounds of technical consultations involving specialized departments for a detailed review of practical proposals from investors.