The Central Bank of the Republic of Uzbekistan, working with KPMG and commercial banks, held a forum on data management and the transition to a new model of data reporting. The discussion positioned the shift as a response to growing data volumes and financial product development, requiring changes in how financial market participants manage data and upgrade information systems. The Central Bank highlighted three priorities for the financial sector: increasing transparency in data collection, reducing the reporting burden on supervised organisations, and improving the quality and reliability of submitted data. A panel session with representatives of Biznesni rivojlantirish banki, Uzsanoatqurilishbank, Xalq Banki, and Ipak Yuli Bank focused on operational challenges banks face in adopting new data management approaches and potential solutions. The Central Bank indicated it will continue holding regular meetings with supervised organisations to review progress in the transition to the new reporting model and to provide further clarifications.
Central Bank of the Republic of Uzbekistan 2025-02-28
Central Bank of the Republic of Uzbekistan convenes forum with KPMG on transition to a new data reporting model
The Central Bank of the Republic of Uzbekistan, in collaboration with KPMG and commercial banks, held a forum on data management and transitioning to a new data reporting model. The forum addressed the need for enhanced data transparency, reduced reporting burdens, and improved data quality. A panel discussed operational challenges and solutions for banks, with ongoing meetings planned to monitor progress.