The event was organized by the Agency on developing financial sector under the Central Bank of Uzbekistan in cooperation with the Germany's Savings Bank Foundation for International Corporation.

Representatives of Central Bank, Uzbekistan Banking Association, commercial bank, Savings Bank Foundation for International Corporation, credit unions, Businesswomen Association, chairpersons of mahallas and others participated at the event.

The Central Bank noted that the volume of attracted deposits of the banks is increasing along with income and well-being of population. Main factors for increasing attractiveness of deposits are 100% guarantee of return of deposits, payment of deposits on first demand, the interest rates on deposits are higher than inflation, which ensures confidence of clients to deposits.

Another factor of dynamic growth is that commercial banks started to rely on internal resources to strengthen resource base. In this context, commercial banks started actively work in deposits market and propose attractive deposits. The competition among banks pushes them to review interest rates frequently and expand banking products.

Currently, potential clients have wide opportunity for choice. Clients can select credit establishment, as well as type and terms of deposits.

The banks offer deposit lines with various terms, providing additional bonuses and prizes, as well as holding lotteries.

According to specialists, currently the population is expressing interest to mid-term and long-term deposits and based on this, the banks are developing their deposit products.

During the seminar, German financiers shared their experience and briefed participants on role and importance of savings to development of economy and well-being of population.

The Central Bank said that the similar seminar was also organized in Samarkand city as well.