The capital of Uzbekistan hosted an international conference on management of credit risks in accordance with international standards, organized by the Central Bank of Uzbekistan jointly with Moody's international rating agency.
The event was held as part of the execution of the Decree of the President of the Republic of Uzbekistan "On the priority areas of reforming and improving the stability of the financial and banking system of the republic in 2011-2015 and achieving high international rating indicators".
It was noted that the global financial crisis has brought significant losses to financial and banking system of some developed countries, lending and investment opportunities of banks have decreased.
Moody's experts emphasized that the financial crisis indicators of the banking system of Uzbekistan distinguished with their stability, including high levels of bank capital adequacy and funding from domestic sources.
Twenty six commercial banks of Uzbekistan got the rating of "stable" from reputable international rating agencies and 11 of them were rated by Moody's. The conference also pointed out that over the past two years the international rating company Moody's has been assessing the outlook of the banking sector of Uzbekistan at the level of "stable".
The main issues of the features of credit risk management, as well as the introduction of modern system of assessment and evaluation of commercial banking and financial-banking system, based on international standards, criteria and standards applied by international rating agencies. It is noted that the positive ratings from leading agencies create conditions for entry of domestic banks to international financial services market, increase investors' confidence.
Given the relevance of the topic, representatives of the agency, based on best international practice, analyzed performance of the banking system and formulated a number of proposals that make can be used in Uzbekistan.
Recommendations developed at the conference will further improve the stability of the financial and banking system, ensure entering the high level of banking activities in accordance with generally accepted norms, standards and performance indicators.