Financial Inclusion and Its Dependence on Banking Services in Uzbekistan

Authors

  • Zafar Absamatovich Umarov Head of the Department of Bank Accounting and Auditing, PhD. in Economic Sciences, Tashkent Institute of Finance, Tashkent, Uzbekistan Author
  • Guzal Yashinovna Babaeva Senior Lecturer, Department of Bank Accounting and Auditing, Tashkent Institute of Finance, Tashkent, Uzbekistan Author
  • Umida Abdugafarovna Ganieva Senior Lecturer, Department of Bank Accounting and Auditing, Tashkent Institute of Finance, Tashkent, Uzbekistan Author

DOI:

https://doi.org/10.61841/mf6w3f59

Keywords:

Financial Inclusion, Banking Services, Access to Financial Services, Uzbekistan

Abstract

This study compared given data of the banking system in the Republic of Uzbekistan on access to financial services and the World Bank’s financial inclusion data to determine the impact and usage of financial services among customers. It is aimed at determining the level of usage of financial services in Uzbekistan by comparing 11 country indicators where surveys were conducted and statistical and SWOT analyses were done. The research on financial inclusion level allowed us to determine the relatively low level of availability of financial and banking services among customers with sufficient cost of financial services as well as suitable and useful information for customers where financial inclusion related to the increase of bank branches and services in rural areas. 

Downloads

Download data is not yet available.

References

[1] (GPFI), T. G. P. for F. I. (2017). Baden-Baden G20 Communiqué Commits to Advance Financial

Inclusion. The Global Partnership for Financial Inclusion (GPFI). http://www.gpfi.org/news/baden-badeng20-communiqu-commits-advance-financial-inclusion

[2] (GPFI), T. G. P. for F. I. (2020). G20 Financial Inclusion Indicators. The Global Partnership for Financial Inclusion (GPFI). http://gpfi.org/data/g20-financial-inclusion-indicators

[3] Arun, T., & Kamath, R. (2015). Financial inclusion: Policies and practices. IIMB Management Review, 27(4), 267–287.

[4] Bank, W. (2008). Finance for All: Policies and Pitfalls in Expanding Access. https://doi.org/10.1596/978-0-8213-7291-3

[5] Central Bank. (2019). O„zbekiston Respublikasi Markaziy bankining Ctatistik byulleteni.

https://cbu.uz/upload/medialibrary/1c9/Markaziy-bankning-statistik-byulleteni_2018-yil.pdf

[6] Datta, S. K., & Singh, K. (2019). Variation and determinants of financial inclusion and their association with human development: A cross-country analysis. IIMB Management Review, 31(4), 336–349.

[7] Demirgüç-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution.

[8] Efobi, U., Beecroft, I., & Osabuohien, E. (2014). Access to and use of bank services in Nigeria: Microeconometric evidence. Review of Development Finance, 4(2), 104–114.

[9] Gardeva, A., & Rhyne, E. (2011). Opportunities and Obstacles to Financial Inclusion.

[10] GFI. (2017). The Global Findex database 2017.

[11] IMF. (2020). IMF DATA Access to macroeconomic & financial data.

[12] Iqbal, B. A., & Sami, S. (2017). Role of banks in financial inclusion in India. Contaduría y Administración, 62(2), 644–656.

[13] Le, T. H., Chuc, A. T., & Taghizadeh-Hesary, F. (2019). Financial inclusion and its impact on financial efficiency and sustainability: Empirical evidence from Asia. Borsa Istanbul Review, 19(4), 310–322.

[14] Leyshon, A., & Thrift, N. (1993). The restructuring of the U.K. financial services industry in the 1990s: a reversal of fortune? Journal of Rural Studies, 9(3), 223–241.

[15] Owen, A. L., & Pereira, J. M. (2018). Bank concentration, competition, and financial inclusion. Review of Development Finance, 8(1), 1–17.

[16] Oz-Yalaman, G. (2019). Financial inclusion and tax revenue. Central Bank Review, 19(3), 107–113.

[17] Ozili, P. K. (2018). Impact of digital finance on financial inclusion and stability. Borsa Istanbul Review, 18(4), 329–340.

[18] PQ-3620. (2018). O‘zbekiston Respublikasi Prezidentining 2018 yil 23 martdagi «Bank xizmatlari ommabopligini oshirish bo‘yicha qo‘shimcha chora-tadbirlar to‘g‘risida»gi PQ-3620-sonli qarori. https://lex.uz/docs/3593541

[19] Staxovich, L., & Galishnikova, E. (2012). Otsenka dostupnosti finansovыx uslug dlya naseleniya v Rossii i mire. Financial Journal, 4, 123–130.

[20] Stoppiramida. (2018). Finansovaya dostupnost. Finansovaya Dostupnost.

[21] Umarov, Z. (2019). Yangi bank xizmatlari, ularni rivojlantirish. Bozor, Pul va Kredit, 1(1), 1–11.

[22] World Bank. (2020). World Bank Group’s Financial Inclusion Is a Key Enabler to Reducing Poverty and Boosting Prosperity.

[23] Yorulmaz, R. (2018). An analysis of constructing global financial inclusion indices. Borsa Istanbul Review, 18(3), 248–258.

Downloads

Published

31.07.2020

How to Cite

Absamatovich Umarov, Z., Yashinovna Babaeva, G., & Abdugafarovna Ganieva, U. (2020). Financial Inclusion and Its Dependence on Banking Services in Uzbekistan. International Journal of Psychosocial Rehabilitation, 24(5), 6055-6067. https://doi.org/10.61841/mf6w3f59