13:31 / 13.05.2020

Ministers and khokims prohibited from interfering in the activities of banks

President Shavkat Mirziyoyev signed on Tuesday a decree on reforming the banking system. The document approved the banking system reform strategy for 2020-2025 and a roadmap.

Photo: Izvestia / Pavel Bednyakov

In accordance with the document, the heads of ministries, departments and state authorities at places are prohibited from interfering in the activities of banks, including the management of entrepreneurial risks associated with the formation of a loan portfolio and bank assets.

The Prosecutor General’s Office has been entrusted with strengthening supervision over the implementation of legislation on banks and banking activities in terms of preventing administrative interference in the activities of banks by state bodies.

It should be noted that with this same document six state-owned banks are expected to be privatized by 2025.