UzA English

30.08.2018 20:47:53

Current problems and prospects for further development of the financial market and financial services

An international roundtable was held on “Current problems and prospects for further development of the financial market and financial services: national practice and international experience”, organized by the committees of the Senate of the Oliy Majlis of the Republic of Uzbekistan on Budget and Economic Reforms, International Relations, Foreign Economic Relations, Foreign Investment and Tourism together with the Banking and Finance Academy of the Republic of Uzbekistan.

The event was attended by senators, foreign and national experts, representatives of relevant ministries and departments, commercial banks, as well as mass media workers.

Speakers at the event noted that due to the gap between the real sector of the economy and the financial market, enterprises face difficulties in using the leverage of the financial market for attracting investment funds. One of the current problems that are still waiting for solution is the issue of increasing the share of minority shareholders in the securities market, thereby ensuring their participation in the financial market.

In this regard, the need for training qualified specialists in the financial market, increasing the financial literacy of the population, which is one of the effective ways to attract free funds of individuals and legal entities to the country’s economy through the sale of securities, was noted. This is evidenced by the practice of developed countries.

Following the round table, recommendations were developed on introducing amendments and additions to the legislation in the area of developing the financial market and financial services, improving the mechanisms of the stock exchange and issuing government short-term securities.