The current banking system of Uzbekistan has begun to take shape since independence and went through the several stages. The reform of the banking sector was intended to promote the development of the national economy, improving the social and economic well-being of people. The law on banks and banking activities adopted in 1991 provided the foundation for the country’s banking sector reforms, leading to the creation of the current two-tier banking system. With the establishment of the Central Bank (CB) in 1995, whose objectives included the regulation of monetary circulation and the commercial banking system development, Uzbekistan initiated the drafting of a new monetary and ex-change rate policy.
Dr. Zhandos Ranov graduated from the Department of International Relations of the Faculty of Economics and Administrative Sciences in Khoja Akhmet Yassawi International Kazakh-Turkish University. In 2008, he received his master’s degree at the Department of Economics of the Faculty of Economics and Administrative Sciences in Khoja Akhmet Yassawi International Kazakh-Turkish University. He then worked as a lecturer in the Department of Accounting and Auditing at the same university. In 2017, he completed his PhD study in Gazi University, Institute of Social Sciences, Department of Finance, his