The Role of Banking Control in Maintaining Banking Stability in Uzbekistan

Abstract

The article describes the concept of "bank supervision", its essence, economic significance, international banking supervision, world experience, the banking system and control procedures in our republic. In particular, the banking system in Uzbekistan plays an important role in ensuring the sound and effective functioning of the economy. Banks, forming the basis of the country's financial infrastructure, perform important tasks in supporting economic growth, serving investors and clients, as well as ensuring money circulation and economic stability. The stability and reliability of banking activities, as well as the security of documents and information on loans, deposits and other financial transactions, are one of the main criteria for economic stability. Banking supervision is a specific mechanism for controlling and managing the banking system, which is carried out to monitor banks' activities, reduce financial risks and ensure stability. Banking supervision in Uzbekistan is managed by the Central Bank and financial supervisory authorities, and the effectiveness of their activities serves to strengthen, stabilize and ensure the security of the country's banking system. The development of banking supervision in Uzbekistan is the main mechanism for the stability and financial protection of the national economy. Financial authorities are actively working to support new technologies and improve the security and control systems of banks. Supervision in ensuring banking stability helps to maintain financial stability by controlling the activities of banks. This, in turn, ensures the provision of reliable and safe financial services for customers and investors. Today, the banking system is exposed to the impact of global economic changes and internal risks. Therefore, improving banking supervision in Uzbekistan, harmonizing it with international standards and ensuring financial stability are among the priority tasks. In this article, we will analyze the role and importance of banking supervision in ensuring banking stability in Uzbekistan. Also, the effective implementation of banking supervision is an important factor in strengthening the economic security of the state, properly directing banking activities and maintaining economic stability. Thus, improving the banking supervision system in Uzbekistan and further increasing its importance will make a significant contribution to economic stability and the development of the banking system.