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Methodological and theoretical bases of research.

The methodological basis of the study are fundamental economic theory in the field of banking, the main provisions contained in the scientific works of domestic and foreign scholars on the problems of modern banking, legal and

regulatory documents, Acts of the Republic of Uzbekistan, decrees, decisions and orders of the President of the Republic of Uzbekistan, the Resolution of Cabinet Ministers, Resolution of the Board of the Central Bank, Decree of Ministry of Finance, regulations, scientific literatures, periodicals, providing economic and legal regulation of banks, as well as details of the annual reports of local and foreign banks.

CHAPTER 2. THE ROLE OF BANKING SERVICES AND THEIR IMPORTANCE IN ECONOMIC DEVELOPMENT

1. 
   Bank services, their economic importance and types
   

Bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or throughcapital markets. A bank connects customers that have capital deficits to customers with capital surpluses.

Due to their critical status within the financial system and the economy generally, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.
Modern commercial banks – lenders that deal with all types of credit, payment and financial transactions related to the servicing of their customers for profit. The specificity of the bank is determined by features of its activities and services provided.
Some scholars interpret banking services as one or more of the bank's operations that meet the specific needs of the client and carrying out banking transactions on behalf of a client in favor of the latter for a fee.
Others say, that bank services is the various ways in which a bank can help a customer, such as operatingaccounts, making transfers, paying standing orders and selling foreign currency.
From the perspective of other scientists banking service should be viewed as a product that the bank realizes in financial market.
However, despite the identification of the terms «bank product», «banking service» and «banking operations» in a number of scientific publications, these categories should be distinguished (Table 1).
Table 1