ASSESSING THE COMPLIANCE OF UZBEKISTAN'S BANKING SUPERVISION SYSTEM WITH THE BASEL CORE PRINCIPLES
Keywords:
banking supervision, Basel Core Principles, FSAP, financial stability, capital adequacy, central bank independence, Uzbekistan.Abstract
The article analyzes the compliance of the banking supervision system of the Central Bank of Uzbekistan with the 29 Basel Core Principles for Effective Banking Supervision, based on the results of the Financial Sector Assessment Program (FSAP, 2025) conducted by the International Monetary Fund and the World Bank. Through statistical grouping of the assessment results for each principle and the calculation of an author-designed weighted compliance index, the overall quality level of the banking supervision system is quantitatively assessed. The results show that, of the 29 principles, only 4 (13.8%) were rated Fully Compliant, 16 (55.2%) Largely Compliant, and 9 (31.0%) Materially Non-Compliant; the author's weighted compliance index amounts to 62.9 points out of 100. Supervisory independence, capital adequacy, and consolidated supervision were identified as the weakest areas. The article concludes with recommendations for improving the quality of supervision.
