An exploratory Investigation into the Banking Sector of Uzbekistan

Project Client

Enterprise Ireland;



Origin Of Funding

Enterprise Ireland;

Start Date


End Date



Central Asia;

The major goal of the project is to conduct a deep and comprehensive analysis of the banking sector in Uzbekistan, primarily using desk research instruments including, but not limited to, the accumulation and analysis of existing data and interviewing experts from both the public and private sectors.

More specifically, we will undertake the following activities:

  • Define the areas of focus (retail, corporate, investments, etc.) and ownership status of the banks operating in Uzbekistan;
  • Reveal the market shares of each bank currently operating in the Uzbek market;
  • Describe the ATM coverage of each bank;
  • Segment the existing commercial banks into three tiers, and reveal the main decision-makers/key stakeholders within each of them;
  • Explore the banking solution provider market in order to gain insights into the most commonly adopted banking platforms;
  • Identify all the major barriers hindering software vendors from entering the local markets;
  • Identify all licenses and/or specific requirements necessary to trade with the Central Bank of Uzbekistan;
  • Outline the existing government initiatives oriented toward supporting start-ups, or any other mechanism(s) encouraging foreign direct investments; and
  • Identify local partners for potential cooperation.