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What are the main tasks of the Central Bank?


The new version of the draft law "On the Central Bank of the Republic of Uzbekistan" was published on the portal for discussion of regulatory and legal documents. According to him, the main goals of the Central Bank are: price stability; stability and development of the banking system; stability and development of the payment system. It is stated that profit making is not the main goal of the Central Bank. In addition, the main tasks of the Central Bank are: development and implementation of monetary policy and currency policy; organization and implementation of currency regulation and currency control; ensuring the stability of the banking system, supporting the activities of microcredit organizations and pawnshops; Coordinating and ensuring the operation of payment systems in the Republic of Uzbekistan; licensing and regulation of activities of banks, bank holdings, microcredit organizations, pawnshops, currency exchange and credit bureaus; supervision of banks, bank holdings, microcredit organizations, pawnshops and credit bureaus; ensuring the protection of the rights of consumers of banking services, increasing the financial literacy of the population and business entities; formation and publication of banking, monetary and credit statistics; foreign sector statistics, including balance of payments, international investment position, foreign debts, reserve assets and exchange rates of the Republic of Uzbekistan, and publication; Management, accounting and storage of international reserves of the Republic of Uzbekistan. The Central Bank does not have the following rights: engage in financial assistance; engage in commercial activities; providing guarantees to third parties, including the obligations of the government of the Republic of Uzbekistan; participation in the capital of banks and other legal entities, with the exception of participation in the capital of the currency exchange. The Central Bank reports to the President of the Republic of Uzbekistan and the Senate of the Oliy Majlis of the Republic of Uzbekistan.