Analysis and development strategy of the banking system of Uzbekistan in the conditions of digitalization of the economy
Today, the digital economy in general, and in particular, the digitalization of the banking and financial sector is a demanded process for countries in order to increase the competitiveness of the national economy. The article reveals the features of digital banks and analyzes the problems and trends of their development in Uzbekistan. Based on the Strategy for Reforming the Banking System of the Republic of Uzbekistan for 2020–2025, scientific conclusions have been drawn for the further development of the digital banking system in the country. The purpose of the study is to analyze the indicators of the development of the banking system of Uzbekistan in the context of the digitalization of the economy and draw conclusions within the framework of the Strategy for the further improvement of this sphere. Research methods. In the course of the research, we used structural and systemic approaches, classification, logical method, scientific abstraction, generalization method. In Uzbekistan, in recent years, the digital bank model has been transforming, and it is becoming more and more widespread and in demand for customers. Banks are investing in the development of this business model. And as world experience shows, digital technologies are really justified for the banking sector. Reforming the banking system in Uzbekistan is carried out in the following areas: 1. Improving the efficiency of the banking system. This key factor will meet the growing needs of clients for affordable and quality financial services. 2. Ensuring the financial stability of the banking system. This direction is a basic condition for the successful implementation of the transformation and strengthens customer confidence. 3. Reduction of the state share in the banking sector. In this process, a comprehensive transformation of commercial banks is being implemented with the introduction of new digital technologies. 4. Availability and quality of financial services for vulnerable groups of the population and for small businesses. Continuity of remote services and activation of NCI (non-bank credit institutions). Occupying one of the key places in economic activity, indicators of the level of development and efficiency of the banking system, as a rule, are included in various international ratings, the main of which is the rating of the World Bank “Doing Business”. Also, in order to increase the level of indicators of the efficiency of the banking system included in various international ratings, in particular, the rating of the World Bank “Doing Business”, a number of measures related to lending have been identified.