Uzbekistan

55% of citizens use the internet in Uzbekistan and almost 70% of the population use mobile phones.

There is no Open Banking activity, and no regulations for them.

There are two processors with interoperability on the market (Uzkart and Humo), and open banking can work through them. The financial market is dominated by state-owned banks and they are fully controlled by the Central bank of Uzbekistan.

The level of financial inclusion is low, with the majority of houses borrowing and saving informally. In 2020, the Central Bank of Uzbekistan (CBU), with technical assistance from the World Bank Group (WBG), launched the process of the development of the National Financial Inclusion Strategy (NFIS). Also, in 2020, the Law of the Republic of Uzbekistan, “On Payments and Payment Systems”  came into effect, which covered new data protection and rules surrounding payment systems. Uzbekistan has been trialling QR codes for mobile payments. There is no sign of Open Banking development yet in the country.