Financial Sector Assessment Program - Basel Core Principles for Effective Banking Supervision - Detailed Assessment of Observance

Jul 19, 2026

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Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision for Uzbekistan, prepared under a joint IMF–World Bank Financial Sector Assessment Program (FSAP) mission in November 2024. The report summarizes the institutional and market structure context, outlines preconditions for effective supervision, and presents main findings across core principles covering responsibilities, licensing, supervisory tools and reporting, corrective and sanctioning powers, cooperation and consolidated/cross-border supervision, corporate governance, risk management, capital adequacy, credit risk and provisions, major risks, auditing and financial reporting, and disclosure and transparency.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages327

Reading Time13 h 44 min

AccessFree to download

Executive Summary

Introduction and Methodology

Institutional and Market Structure—Overview

Preconditions for Effective Banking Supervision

Main Findings

Detailed Assessment

Summary of Compliance with the Basel Core Principles

Recommended Actions and Authorities Comments

July 17, 2025 Public Disc losure Authorized Pub lic Disc losure Authorized REPUBLIC OF UZBEKISTAN FINANCIAL SECTOR ASSESSMENT PROGRAM DETAILED ASSESSMENT OF OBSERVANCE BASEL CORE PRINCIPLES FOR EFFECTIVE BANKING SUPERVISION Prepared By Monetary and Capital Markets Department, IMF, and Finance, Competitiveness and Investment Global Practice, World Bank This report was prepared in the context of a joint IMF-World Bank Financial Sector Assessment Program (FSAP) mission in Uzbekistan during November 2024, led by Mr. Vassili Prokopenko, IMF and Ms. Gunhild Berg, World Bank, and overseen by the Monetary and Capital Markets Department, IMF, and the Finance, Competitiveness and Investment Global Practice, World Bank. Further information on the FSAP program can be found at [http://www.imf.org/external/np/fsap/fssa.aspx](http://www.imf.org/external/np/fsap/fssa.aspx), and [www.worldbank.org/fsap](www.worldbank.org/fsap). INTERNATIONAL MONETARY FUND THE WORLD BANK CONTENTS Glossary __________________________________________________________________________________________ 4 List of Regulations ________________________________________________________________________________ 6 EXECUTIVE SUMMARY __________________________________________________________________________ 7 INTRODUCTION AND METHODOLOGY _______________________________________________________ 11 A. Introduction ____________________________________________________________________________________ 11 B. Information and Methodology Used for Assessment _________________________________________ 11 INSTITUTIONAL AND MARKET STRUCTURE—OVERVIEW ___________________________________ 13 A. Institutional Structure_________________________________________________________________________ 13 B. Overview of the Banking Sector_______________________________________________________________ 14 PRECONDITIONS FOR EFFECTIVE BANKING SUPERVISION __________________________________ 15 A. Sound and Sustainable Macroeconomic Policies______________________________________________ 15 B. Framework for Financial Stability Policy Formulation__________________________________________ 15 C. A Well-Developed Public Infrastructure _______________________________________________________ 16 D. Framework for Crisis Management, Recovery, and Resolution ________________________________ 16 E. Public Safety Net ______________________________________________________________________________ 17 F. Effective Market Discipline ____________________________________________________________________ 17 MAIN FINDINGS________________________________________________________________________________ 18 A. Responsibilities, Objectives, Powers, Independence, Accountability (CPs 1-2)_________________ 18 B. Licensing, Changes in Control, and Major Acquisitions (CPs 4-7)______________________________ 18 C. Supervisory Approach, Tools and Reporting (CPs 8-10) _______________________________________ 19 D. Corrective and Sanctioning Powers of Supervisors (CP 11)____________________________________ 20 E. Cooperation, Consolidated and Cross-Border Banking Supervision (CPs 3, 12-13) ____________ 21 F. Corporate Governance (CP 14) and Risk Management (CP 15) ________________________________ 21 G. Capital Adequacy (CP 16) _____________________________________________________________________ 22 H. Credit Risk and Problems Assets, Provisions and Reserves (CP 17–18) ________________________ 22 I. Risks (CP 19–25) _______________________________________________________________________________ 23 J. Auditing and Financial Reporting (CPs 26-27) _________________________________________________ 24 K. Disclosure and Transparency (CP 28) __________________________________________________________ 25 L. Abuse of Financial Services (CP 29) ____________________________________________________________ 25 DETAILED ASSESSMENT _______________________________________________________________

FAQs

What document and framework does this report evaluate?

It evaluates the Detailed Assessment of Observance of the Basel Core Principles for Effective Banking Supervision within Uzbekistan under the joint IMF–World Bank FSAP framework.

What are the main areas covered in the main findings section?

The report covers core responsibilities and powers, licensing and ownership changes, supervisory approach and reporting tools, corrective and sanctioning powers, cooperation including consolidated and cross-border supervision, corporate governance and risk management, capital adequacy, credit risk and asset quality topics, major risk areas, and auditing, financial reporting, and disclosure.

What outcomes does the report provide for supervisors and authorities?

It includes a detailed assessment and then presents a summary of compliance with the Basel Core Principles, followed by recommended actions and authorities’ responses to the assessment.

Jul 19, 2026

Upload by Aurora