Tashkent, Uzbekistan (UzDaily.com) -- On 24 November 2021, First Deputy Finance Minister Omonullo Nasritdinxodjayev met with representatives of Mashreq Bank, the oldest private bank in the UAE, headed by James Pearson, Global Head of Financial Institutions.

The Head of Department of the Capital Market Development Abbos Dzhurabayev and Deputy Head of the Department Naima Nuritddinova also took part from the Ministry, Vice President for Risk Management in Wholesale Trade Tqueer Ahmed and Financial Institutions Relations Manager Aleksei Ustinov took part from the guests.

The main purpose of the meeting was to get acquainted with the reforms in the banking sector and with the development of the capital market in Uzbekistan.

At the beginning, the guests were told about the work done, the ongoing transformation of banks and plans for the coming years. Particular attention was paid to the government's expectations from the privatization of a number of banks with state participation. 

It was stressed that the privatization of most of these banks will become a catalyst for increased competition, the introduction of best corporate governance practices, diversification of business models and, ultimately, improving the quality of service.

At the end, the guests received answers to their questions. The parties agreed to further discuss possible ways of cooperation.