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181-188
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A
BSTRACT
Today, the world financial and banking system is primarily digital electronic payment systems of the
economy, cryptocurrencies and without intermediaries due to the rapid growth of the market share of
elements such as lending revolutionary changes are taking place. First of all, the rapid growth of mobile
payments and credit volume is observed. It is known that, unlike traditional fields of activity, the market
value of Internet companies does not have any material basis, and the more useful information the
company has collected, the more it can produce a product or service will be cheaper. Currently, it does not
have its own offices and ATMs rapid growth in the number of digital banks and financial institutions being
observed. In this article, the role of the digital economy today and in the context of the digital economy
information on ways to further reform the banking system is provided.
K
EYWORDS
Digital product, digital service, digital innovation activity, adoption, production, commercialization,
synergistic effect, scientific-production organizations, technopolises, technoparks, innovation centers,
innovation-investment, business centers.
I
NTRODUCTION
Extensive reforms implemented in our country to
bring the development of our country to a new
level and in the world community. It is very
important to get a decent job. The year 2020 in
Journal
Website:
http://sciencebring.co
m/index.php/ijasr
Copyright:
Original
content from this work
may be used under the
terms of the creative
commons
attributes
4.0 licence.
Research Article
UNIQUE CHARACTERISTICS OF THE DEVELOPMENT OF
COMMERCIAL BANKS IN THE DIGITAL ECONOMY
Submission Date:
July 20, 2023,
Accepted Date:
July 25, 2023,
Published Date:
July 30, 2023
Crossref doi:
https://doi.org/10.37547/ijasr-03-07-31
Murotjonova Mubina Dilshod Qizi
Jizzakh Branch Of The National University Of Uzbekistan Named After Mirzo Ulugbek, Faculty Of
“
Psychology
”, 5230100
- Economy (By Industries And Sectors), Student Of Group 140-20, Uzbekistan
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our country is “Development of science and
digital economy” significant
results were
achieved in every field. In particular, if stable
growth rates are ensured, gross domestic the
growth of production in 2020 compared to 2019
was 1.6 percent. The volume of production of
industrial products increased by 0.7%,
construction by 9.1%, agriculture, forestry and
fisheries by 3.0%, retail turnover by 3.2%, and
services by 2.3%. According to the results of
January-December 2020, the foreign trade
turnover of our republic is 36.3 billion. US dollars,
in which the export volume is 15.1 billion. dollars
and import volume - 21.2 bln. USD amount came.
Adopted on the initiative of the President of the
Republic of Uzbekistan “Strategy of Actions on the
Five Priority Areas of Development of the
Republic of Uzbekistan in 2017-
2021”, special
attention was paid to the issues of expanding the
participation of banks in economic reforms,
developing the banking system, increasing the
level of capitalization of banks, and strengthening
their
financial
stability
and
reliability.
Mirziyoyev’s thoughts are
particularly important:
“It is necessary to admit that the knowledge and
skills of specialists, the technical capabilities of
large coronas, are not enough for their
independent transformation. That is why
internationally recognized companies such as the
World Bank, the European Reconstruction and
Development Bank, the Asian Development Bank,
and McKinsey, Boston Consulting Group, and
Rothschild have been invited to invest in large
enterprises in the electric power, oil and gas, and
chemical industries, as well as commercial banks
was involved. 32 major corona and network
transformation of strategic importance in 2021
work will be done. Wide implementation of digital
technologies in banks' activities will be in the
center of our attention!”.
Adopting the Decree of the President of the
Republic of Uzbekistan No.5992 on May 12, 2020
“On the strategy of reforming the banking system
of the Republic of Uzbekistan for 2020-2025 on
the transformation of the banking sector in order
to increase the investment attractiveness of
banks, popularity and quality of banking
services”. “The strategy of reforming the banking
system of the Republic of Uzbekistan for 2020-
2025” was approved.
In particular, the specific reforms carried out in
the banking system today are creating a basis for
sustainable development of the banking system,
increasing the level of capitalization and
investment attractiveness. In the conditions of the
digital economy, commercial banks of our
country are carrying out a number of positive
activities, which, in turn, are becoming a driver of
rapid economic development. In order to
transform the banking sector in order to increase
the investment attractiveness of banks, the
popularity and quality of banking services, the
Decree of the President of the Republic of
Uzbekistan. The approval of the “Strategy for the
Reform of the Banking System of the Republic of
Uzbekistan for 2015” directly took the reform of
the banking system to a new level. As January, 1
of this year, there are 32 banks operating in our
republic, 858 regional branches and branches of
our republic's banks, as well as 475 mini banks,
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725 banking service centers and 1907 24/7
branches provide a wide range of banking
services to customers.
Bank loans to economic sectors in 2020 will be
65.4 trillion. increased by 276.9 trillion.
amounted to sum. Also, bank deposits will reach
114.7 trillion by the end of 2020. amounting to
23.7 trillion compared to last year. increased to
the amount
As a result of the work carried out on the
development of the cashless settlement system
and remote services, the number of plastic cards
will reach 25.7 million by January 1, 2021. 5.2
million units compared to last year. units or
25.4%, the number of terminals is 438.4
thousand, which is 46.1 thousand or 11.7%
respectively, the number of ATMs and
infomarkets are 11800 by the end of 2020,
compared to last year it is 2597 or 28.2%
increased. The presence of JSC “Capital Bank”,
which has gained a significant share in the market
of banking services, is significant among the
positive indicators presented above. JSC “Capital
Bank” was established in accordance with the
decision of the President of the Republic of
Uzbekistan dated March 13, 2017 has been
working.
According to the decision of the President of the
Republic of Uzbekistan dated September 12, 2017
“On measures to further develop and increase the
stability of the banking system of the Republic”
No.3270, the minimum amount of authorized
capital of commercial banks is 100 billion. sum,
and according to these requirements, the
authorized capital of the bank is 100 billion sum,
and Tashkent city administration is considered
the sole shareholder of the bank. The economy
implemented in banking activity in our country
based on the priority tasks of the reforms, it has
been operating as a universal bank that provides
financing of projects in economic sectors,
comprehensive support of small business and
private entrepreneurship, as well as providing a
full range of banking services to legal entities and
individuals. In 2020, in order to strengthen the
bank's activities and provide quality services to
customers, the organizational structure of the
bank was improved, and new structural
structures were established in accordance with
modern requirements. The bank's charter was
drawn up in a new version and approved.
On the other hand, “Capital Bank” offers modern
banking services using advanced information and
communication technologies in order to
strengthen its position in the financial market,
increase its financial stability, and provide
customers with comprehensive and high-quality
banking services in the conditions of strong
competition.
As a result of the bank's practical work on
attracting private and corporate clients,
improving traditional services, and introducing
new serv
ices, the bank’s financing capabilities are
getting stronger. In particular, as of the end of
2020, the bank’s total assets are 201.3 billion.
amount, bank liabilities 77.6 billion sums, capital
bank is 123.8 billion sums, and the net profit of
the bank is 16.2 billion sums amounted to sum.
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In turn, the net profit of the bank at the end of
2019 was 73 billion, this indicator will be 16.2
billion sums by the end of 2020 or increased by
2.2 times, and the business set for 2020 the plan
indicator was fulfilled by 100.6 percent.
“Capital Bank” JSC, in line with the
implementation of the customer-oriented policy,
pays special attention to increasing the types and
quality of the services provided, improving the
traditional services based on customer demand,
and increasing the attractiveness of the bank by
offering new, modern and fast services.
Based on the decision of the President of the
Republic of Uzbekistan dated March 23, 2018 “On
additional measures to increase the popularity of
banking services” No.3620, in
troducing market
mechanisms of service provision, expanding their
types, ensuring financial transparency for
entrepreneurs and the population, as well as
work is being done to further strengthen the
culture of service and customers’ confidence in
the banking system. As a result, the number of
customers and the number of services provided
are increasing. In particular, as of January 1 of this
year, the number of bank clients is 12,427, of
which 11,733 are individuals and increased by 1.8
times compared to last year. In turn, the current
services provided by the bank and other news
related to the bank’s activities, information
necessary for the use of customers are published
by mass media and the official “website” of the
bank. Clients are guaranteed information-
consulting services, as well as opportunities to
receive quality advice when conducting business
and issuing loans, using new services. Also, in
order to provide quick and easy service to
customers, a structure of banking services
consisting of “Front office” and “Back office” has
been established based on international
standards. “Call
-
center” service was launched for
customers to get information about banking
services, and during the process of initial
acceptance of customers, opportunities were
created to get information about the banking
services provided from the administration staff.
Also, in order to increase the quality and quality
of services to the population, based on the
principle of a single window, a network of
universal retail services, including international
money transfers, currency exchange, retail and
consumer
loans,
opening
national
and
international plastic cards, attracting deposits,
paying utility bills transmission and other types
of services were introduced.
Today, clients are offered both modern and
sophisticated types of remote services based on
the Internet, mobile communication and other
information technologies. In particular, “Internet
banking”, “CMC notification”, “Mobile banking”,
“Online deposit”, “Online –
microloan”, “On
line-
conversion”,
“Online
-international
money
transfer”, “Opening an online account”, “Opening
a plastic card online”, “Among them are such
services as making international money
transfers” via a mobile application, making
payments via QR-code.
Extensive measures are being taken to further
liberalize the currency policy in our country. In
particular, in accordance with the decree of the
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President of September 2, 2017 “On the first
measures to liberalize the currency policy”, 7
currency exchange offices serving natural
persons, conversion operations, as well as the
Department of Foreign Economic Activities for
legal entities are providing services. Adoption of
the Decree of the President of the Republic of
Uzbekistan dated May 12, 2020 No. PF-
5992 “On
the Strategy of Reforming the Banking System of
the Republic of Uzbekistan for 2020-
2025”. In the
future, the banking system, in particular, the
development of “Capital Bank” activity, as well as
the improvement of the quality of customer
service and the level of working with them,
determined important directions.
Today, in the banking system, as in all other
sectors, without further development of
information technologies, it is impossible to
expand new, especially remote, types of services
to customers. The announcement by the
President of the Republic of Uzbekistan that 2020
is the “YEAR OF THE DEVELOPMENT OF
SCIENCE, INNOVATION AND DIGITAL ECONOMY”
today banks, including “Capital Bank” JSC, are
faced with the implementation of important
priority tasks in the field of advanced
technologies, including the wide use of digital
technologies, modern The tasks of introducing
new types of services enriched with software and
advanced technologies have been set, and in this
direction, the bank has set relevant priorities and
is carrying out work.
In particular, for the purpose of offering products
tested on the basis of international standards, the
bank information system was transferred from
“TT
-
Audit” by the international audit company
“Price water house Coopers” to eval
uate the
bank’s automated banking systems and to offer
new, flexible and fast services by improving it.
Based on the results of this audit, extensive
practical work is being carried out by the bank to
offer tested products in accordance with
international standards. The introduction of
modern technologies into the activities of banks
has also expanded the possibilities of using the
Internet and mobile phones. At present, most of
the customers are widely using “Internet
-
banking” and “Mobile
-
banking” services
. Also
“Pomegranate” the system of fast payments was
also introduced. As a result of the work carried
out by the bank on the improvement of remote
services, almost all customers are connected to
remote services and they are widely using these
services. In turn, cooperation with one of the
leading companies in the field of information
technologies and software has been established
in our republic today. In the course of its activity,
the bank, in cooperation with the leading
company, is improving the bank's information
technology system by making appropriate
updates and additions, and in this process, special
attention is paid to ensuring information security.
The priority tasks of the bank in the following
years were developed directly on the initiative of
t
he President of the Republic of Uzbekistan “Five
priorities of the development of the Republic of
Uzbekistan in 2017-2021 according to action
strategy” as well the purpose of the Decree of the
President of the Republic of Uzbekistan dated
May 12, 2020 No.5
992 “On the strategy of
reforming the banking system of the Republic of
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Uzbekistan for 2020-
2025” is to implement the
tasks defined in the strategy of reforming the
banking system of the Republic of Uzbekistan for
2020-2025.
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