Central Bank of Uzbekistan and World Bank organized the event at the Banking-Financial Academy in Tashkent.

World Bank specialists noted importance of use of international standards on financial accounting at establishing strong ties with financial institutions of the world. They also highly rated works, conducted in the banking system of Uzbekistan.

Currently, Central Bank of Uzbekistan, Ministry of Finance, Uzbekistan Banking Association in cooperation with World Bank carry out works on reforming accounting in banking-financial system. In particular, Central Bank and World Bank are implementing a project “Improving financial accounting and audit in banking system”.

The project is directed at full use of international financial accounting and audit standards in banking system, harmonize local financial accounting and banking supervision requirements to international standards, and strengthen regulation of banking system through trainings.

The project will also help to translate international financial accounting and audit standards into Uzbek and adopt it as normative document. The project will help Uzbekistan to introduce international financial accounting and audit standards into the banking system. It will also organize various specialized trainings.