Uzbekistan Industrial and Construction Bank (SQB) and the Management Development Institute of Singapore in Tashkent signed a Memorandum of Cooperation in education and exchange of experience.

An agreement was reached on organizing retraining and advanced training for SQB employees and internships in foreign countries.

The Development Strategy of New Uzbekistan for 2022-2026 and the Strategy for Reforming the Banking System of the Republic of Uzbekistan for 2020-2025, approved by the President of the country, define tasks aimed at recruiting personnel, continuous professional development, training, and retraining of specialists in in-demand areas.

In the process of reforms in education carried out under the leadership of the Head of state, much attention is paid to the development of modern educational programs and improving the quality of personnel training using advanced foreign experience.

As part of implementing these tasks, SQB, with the assistance of the International Finance Corporation, the Asian Bank, and the European Bank for Reconstruction and Development, carried out specific work. International standards have been developed for employees providing services to clients, training courses have been organized within the framework of international educational programs, a KPI personnel incentive system has been established, and training courses have been organized jointly with the Moscow School of Management Skolkovo.

“Transformation is a new atmosphere of the work process, a new method of work”, says Aziz Akbarjonov, Chairman of the Board of SQB JSCB. “We have improved our personnel policy and created the basis for this operating principle. Our next actions are aimed at being competitive with the activities of leading foreign banks”.

The bank’s involvement of a higher education institution in education and the exchange of experience is significant because it is being used for the first time in the banking system of Uzbekistan.

“It is no coincidence that we chose the Management Development Institute of Singapore in Tashkent”, says Abdulaziz Orifjonov, Acting Director of the Personnel and Organizational Development Department of SQB JSCB. “The higher education institution, in collaboration with prestigious universities around the world, puts forward various educational programs in the banking, financial sector, and management. In addition, the institute conducts in-depth research, and hundreds of young people undergo internships in leading countries to improve their knowledge and skills. We hope the Institute’s experience will improve our cooperation”.

According to this joint educational program, SQB employees will undergo retraining and advanced training in risk management, compliance control, business analysis, and project management. They will be able to undergo internships in leading training centers in England, Germany, Singapore, Korea, and Switzerland.

This year, it is planned to train more than 3.5 thousand employees of the bank’s head office, front and back offices, and top managers and assist them in obtaining such international certificates as FRM, CFA, ACCA, and PMI.

UzA