01 Ruziev-Ghosh indd


Uzbekistan: The Banking Sector



Download 320,88 Kb.
Pdf ko'rish
bet4/19
Sana25.09.2022
Hajmi320,88 Kb.
#850234
1   2   3   4   5   6   7   8   9   ...   19
Bog'liq
UzbekBankingRG2009 (1)

Uzbekistan: The Banking Sector
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Number of 
banks 
29
30
33
35
34
38
35
33
31
n.a.
n.a.
29
of which, 
foreign-
owned
2
4
4
5
6
6
6
5
5
n.a. n.a.
5
EBRD index 
of banking 
sector 
reform
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
1.7
Source:
European Bank for Reconstruction and Development, 
Transition Report
(2000, 2004, 2007).


jUNE 2009 11
Tab
le 2
Ownership Structure of the Eight Largest Banks in Uzbekistan
Name of the bank
Ownership 
str
ucture
Direct or indirect state 
par
ticipation in bank capital*
Relationship to 
pre
vious banking 
system
F
ounding 
date
National Bank f
or F
oreign Eco
-
no
m
ic
A
ct
iv
ity
o
f t
he 
Repub
lic of Uzbekistan (NB
U)
State-o
wned
100 percent state
Vneshek
onombank
October 25, 1991
Promstroibank
Joint stoc
k
Uzbekneftegaz, Uzqishloqxujalik
-
mashinasozlik, Uzbekistan Railroads
,
Na
voi and Olmalyq mining comple
x
Promstroibank
June 25, 1991
P
axta Bank (Cotton Bank)
Joint stoc
k
Uzpaxtasanoatsotish, Uzag
rosu

gur
ta, 
Uzqishloqxojalikmashholding
Ag
roprombank
July 1, 1991
Xalq Bank (P
eople’
s Bank)
State-o
wned
100 percent state
Sa
vingsbank
March 16, 1992
G’allabank (Gr
ain Bank)
Joint stoc
k
Uzdunmahsulot and some other regional br
anches of this organization
Not related
A
ugust 2, 1994
Sa
vdogarbank
(Merchant Bank)
Joint stoc
k
Ministr
y of Finance
, Uzbeksa
vdo
,
Uzme
vasabza
vot
Not related
Ma
y 21, 1994
Ipoteka bank**
(Mor
tgage Bank)
Joint stoc
k
Ministr
y of Finance
, Municipality of 
the city of 
Tashk
ent, State Proper
ty 
Committee
Not related
Apr
il 28, 1994
Asaka Bank
Joint stoc
k
Ministr
y of Finance
, Uza
vtosanoat, NB
U
Not related
Jan
uar
y 19, 1996
So
ur
ce
s:
F
. Mullajono
v, 
O

zbekiston 
Respublikasi 
Bank 
Tizimi 
(T
ashk
ent: 
Uzbekistan, 
2001); 
Central 
Bank 
of 
Uzbekistan, 
“List 
of 
Banks 
Carrying 
out
Commercial 
Acti
vities in the 
Territory of Uzbekistan,
” a
vailable at http://cb
u.uz/uz/cred_or
g/com_banks.htm (T
ashk
ent, 2007).
*All institutions listed in the third column are either state agencies or state-o
wned companies.
**Ne
w name of the Uyjo
yjamg
armabank after its mer
ger with a smaller bank, Zamin Bank, in 2005.


12 PROBLEMS OF ECONOMIC TRANSITION
As the third column of Table 2 shows, all banks in the list are 
state-owned either directly or indirectly: the NBU and Xalq Bank 
are 100 percent state-owned; the rest are indirectly controlled by 
the state through major stockholders, which are ministries, state 
agencies (former industrial ministries), and state-owned enterprises. 
Such a concentration of the banking sector need not necessarily be 
a bad thing.
4
In contrast to other sectors of the economy, the bank-
ing sector’s success depends upon the confidence of the general 
public. Because larger banks have a more widespread network of 
branches and can offer a richer menu of services, they tend to instill 
confidence in the banking system. As discussed in detail below, in 
Uzbekistan, banking sector concentration occurred for different 
reasons and it serves a different purpose.
Reorganization and modernization of the payments system was 
one of the most important and noteworthy reforms in the Uzbek 
banking sector during transition. The payments system under 
central planning required the physical transportation of payment 
documents and was thus slow, inefficient, and unreliable. The signs 
of obsolescence in the old payments system became especially 
evident between 1991 and 1993 when the differences in timing 
between crediting and debiting of accounts, caused by delays in 
the transmission of payment information and in the subsequent 
registration of accounting entries, increased significantly across all 
FSU countries (Balino, Dhawan, and Sandararajan, 1994; Balino, 
Johnson, and Sandararajan, 1996).
Therefore, the banking reform also necessitated that urgent at-
tention be paid to the establishment of a well-functioning payments 
system. An efficient
 
system of processing debits and credits arising 
from deposit-based transactions facilitates the transfer of owner-
ship claims in the financial sector and thus fosters the corporate 
sector’s trust in banks. To facilitate this process, in 1994, the Uzbek 
government announced a four-year tax holiday for all commercial 
banks in the country, regardless of their ownership structure, with 
the condition that the banks were to use these resources only for 
the technical development of the sector. As a result, Uzbekistan’s 
payments system became one of the first to be modernized in the 
FSU (Mullajonov, 2004, p. 3). From 1991 to 1994, the average 



Download 320,88 Kb.

Do'stlaringiz bilan baham:
1   2   3   4   5   6   7   8   9   ...   19




Ma'lumotlar bazasi mualliflik huquqi bilan himoyalangan ©hozir.org 2024
ma'muriyatiga murojaat qiling

kiriting | ro'yxatdan o'tish
    Bosh sahifa
юртда тантана
Боғда битган
Бугун юртда
Эшитганлар жилманглар
Эшитмадим деманглар
битган бодомлар
Yangiariq tumani
qitish marakazi
Raqamli texnologiyalar
ilishida muhokamadan
tasdiqqa tavsiya
tavsiya etilgan
iqtisodiyot kafedrasi
steiermarkischen landesregierung
asarlaringizni yuboring
o'zingizning asarlaringizni
Iltimos faqat
faqat o'zingizning
steierm rkischen
landesregierung fachabteilung
rkischen landesregierung
hamshira loyihasi
loyihasi mavsum
faolyatining oqibatlari
asosiy adabiyotlar
fakulteti ahborot
ahborot havfsizligi
havfsizligi kafedrasi
fanidan bo’yicha
fakulteti iqtisodiyot
boshqaruv fakulteti
chiqarishda boshqaruv
ishlab chiqarishda
iqtisodiyot fakultet
multiservis tarmoqlari
fanidan asosiy
Uzbek fanidan
mavzulari potok
asosidagi multiservis
'aliyyil a'ziym
billahil 'aliyyil
illaa billahil
quvvata illaa
falah' deganida
Kompyuter savodxonligi
bo’yicha mustaqil
'alal falah'
Hayya 'alal
'alas soloh
Hayya 'alas
mavsum boyicha


yuklab olish