The board of the Central Bank of the Republic of Uzbekistan reviewed the results of banking system activity for 2013 last week at its regular enlarged meeting.
The meeting, which was presided over by the Chairman of the Central Bank Faizulla Mullajonov, also included an evaluation of the performance of the priority direction of 2014 economic programs as assigned by Islam Karimov, the president of the country.
The activity of the year was geared toward improving the level of capitalization of the banking system in order to strengthen its liquidity and stability. The results of the measures show that the banking system complied with the generally accepted international standards and even exceeded them in certain areas.
The banking system currently has a level of capital adequacy of 24.3 percent, which is three times greater than the requirements set by the Basel Committee on Banking Supervision. As of Jan. 1, the indicator has reached more than $2.95 billion.
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