Representatives of Banking Association of Uzbekistan, Chamber of Commerce and Trade of Uzbekistan, heads of commercial banks, nonbank credit institutions, business circles took part in the seminar. Participants discussed the tasks set for the banking system by the President of the Republic of Uzbekistan in the joint session of Legislative Chamber and Senate of Oliy Majlis, as well as by the Decree of the President "On priorities for further reformation and enhancement of financial and banking stability in 2011-2015, and achievement of high international rating” and State Program the Year за Small Business and Private Entrepreneurship.  

As noted in the seminar, nowadays commercial banks offer the public more than 400 types of national and foreign currency deposits in an unlimited amount and timing. The volume of deposits in credit institutions increased 53% in 2010 as compared to 2009. Currently, the country's banking system is functioning as one of the most stable systems meeting international requirements. For instance, the international rating agency Moody's assessed the development prospects of the banking system of the Republic of Uzbekistan as "stable" last year, and 15 commercial banks of the republic received a high rating "stable" from the leading international rating agencies such as Fitch Ratings, Moody’s, and Standard & Poors.

In compliance with the State Program Year of Small Business and Private Entrepreneurship the banking system was entrusted with a number of priority tasks for further development of small business and private entrepreneurship, and further enhancement of the role of commercial banks in their financial support. In particular, a special attention is paid to improving the regulatory base for the further development of small business and entrepreneurship, including the amendments to existing laws and regulations aimed at strengthening the protection of the rights and legitimate interests of business entities. The document entailed the elaboration of such bills as "On guaranteeing freedom of entrepreneurship" in the new edition, "On family business", "On private property protection and guaranteeing proprietors’ rights", "On licensing procedures in entrepreneurship”. The laws of the Republic of Uzbekistan "On microfinancing", "On credit unions", and "On micro-credit organizations” as well as other legislative acts are being changed and amended for the further upgrade in the microfinance sector on the basis of international approaches and standards

It is envisaged that credit institutions will uphold small business and private entrepreneurship through allocating funds exceeding 3.8 trillion soums this year while special focus will be given to supporting the formation of a seed capital, development of family business and craftsmanship, upgrade of enterprises producing consumer goods, development of services and financing projects by education institutions’ graduates, especially those of professional colleges pertaining to entrepreneurial activity.

The seminar also highlighted the ongoing activities on the development of non-banking credit institutions system, tailoring the legislative acts regulating the activity of those institutions, and ensuring their sustainable operation. Along with that some steps are taken to expand the network of credit institutions in the regions.

119 credit unions, 35 microcredit organizations and 58 pawnshops currently function in Uzbekistan.