The event was organized by the Central Bank of Uzbekistan in cooperation with the Institute for forecasting and macroeconomic research under the Cabinet of Ministers of Uzbekistan.

Representatives of banks and other financial-credit organizations of Uzbekistan, ministries and departments, experts of financial institutes and higher educational establishments participated at te roundtable.

The draft law is aimed at forming legislative base on creating private banks and financial institutes, based on private property, increasing quality of services to clients in banking and financial services market, as well as creating conditions for developing modern market infrastructure.

The draft law envisages to set legislative base for creating private banks and financial institutes, guarantees of their activities, establishes ban for illegal interference to their activity by the state controlling bodies. It also sets rights and obligations of founders and private banks and financial institutions.

The document clearly determines list of guarantees, presented by the government to banks and financial institutions during their activity.

It also clarifies order of order of inspection of private banks and financial institutions and they can appeal decisions of controlling bodies at courts. It also sets separate limits to controlling bodies.

Participants noted that the draft law will ensure legal regulation of relations of private banks and financial institutions. It was said that the document will help to develop effectively developed system of the private banks and financial institutes in Uzbekistan.