Uzbekistan - Banking Systems Uzbekistan - Banking Systems
There are 29 commercial banks in Uzbekistan, including five state-owned banks; 13 partly state-owned joint-stock banks; five banks with foreign capital; and six private banks. The total number of credit offices throughout the country, including microcredit organizations and branches of commercial banks is 8,610. The banking system in Uzbekistan remains closely controlled by the state through a complex set of regulatory actions, decrees, proclamations, and practices. Most banking assets remain in state-owned or controlled banks, and most loans are directed or channeled by the government to develop certain pre-selected industry sectors. The slow pace of reform in the banking system limits the role banks can play as financial intermediaries, thus inhibiting the ability of citizens or private companies to obtain credit and other banking services.