ISSN: 
2776-1010
Volume 3, Issue 4, Apr, 2022 

508

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ISSN:
2776-1010
Volume 3, Issue 4, Apr, 2022
508 ISSN:
2776-1010
Volume 3, Issue 4, Apr, 2022
508
Such achievements in the development of information and communication technologies are widely
used in the banking sector, as well as in other areas. In particular, the establishment of services such as
"Mobile banking", "Online banking" by commercial banks in the country facilitates the use of banking
services for individuals and corporate bank customers and the population.
The rapid growth of information flow in the XXI century, interpreted as the information age, the
development of the Internet and information technology in a geometric progression - shows the
objective necessity and inevitable process of digitization of various services and technologies and the
organization of interactions online.
As the President of the Republic of Uzbekistan Shavkat Mirziyoyev noted, «without a digital economy,
the country's economy has no future» [1]. The legislative framework for the gradual reform of the
banking system in Uzbekistan, its further development and the creation of the necessary legal
conditions for strengthening the competitive environment in this area is being improved. In particular,
the Decree of the President of the Republic of Uzbekistan No. PF-5992 of May 12, 2020 "On the strategy
of reforming the banking system of the Republic of Uzbekistan for 2020-2025" was adopted.
Operational measures have been identified to ensure adequate security, as well as to reduce the impact
of the human factor in the provision of financial services [2].
This decree approved the «Strategy for reforming the banking system of the Republic of Uzbekistan for
2020-2025». This strategy focuses on increasing the popularity of financial services and provides for
the implementation of the following key measures:
- Ensuring a competitive environment in the banking sector by creating equal conditions for the
activities of banks, regardless of the state share in the capital of individual banks;
- Introduction of new business models of banks, including those based on the principles of digital
banking;
- Application of international quality standards of banking services;
- Optimization of operating and capital costs of banks;
- Further increase of deposits of legal entities and individuals in the national currency, as well as
attraction of additional resources to the banking system due to the entry of banks into international
capital markets, etc.
In addition, the participation of banks in the regions will be ensured by expanding the network of
compact banking services offices in all regions, providing a basic package of banking services and not
requiring a large number of management staff, as well as the widespread introduction of mobile
banking services.
As a result, it is no exaggeration to say that a new stage in the evolution of banking products and services
is taking place. In this regard, in order to develop the service sector for businesses, to ensure the
continuity of their settlement operations, we will talk about the advantages of improving the digital
banking regulatory system "Digital Bank" and its organizational and methodological aspects.
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