Tashkent, Uzbekistan (UzDaily.com) — A forum dedicated to data management and the transition to a new regulatory reporting model in the banking system was held in Tashkent. The event was organized by the Central Bank of the Republic of Uzbekistan in collaboration with the international consulting firm KPMG and featured participation from leading commercial banks in the country.

The growing volume of data and the development of innovative financial products require market participants to rethink their approaches to information management and modernize existing systems. During the forum, representatives of the Central Bank outlined key priorities for the financial sector, including enhancing the transparency of data collection processes, reducing the administrative burden on supervised institutions, and improving the quality and reliability of submitted information.

During the panel session, representatives from Biznesni Rivojlantirish Banki, O‘zsanoatqurilishbank, Xalq Bank, and Ipak yo‘li Bank discussed the challenges financial institutions face in implementing new data management approaches. Participants shared their experiences and proposed possible solutions to existing issues.

The Central Bank of Uzbekistan announced its intention to hold regular meetings with supervised organizations to address concerns related to the transition to the new data reporting model. This initiative aims to promptly resolve emerging difficulties and ensure the effective implementation of changes.

The forum marked an important step toward the digitalization of Uzbekistan's banking system and strengthened cooperation between the regulator and financial market participants.