Uzbekistan to Launch Open Banking and New Fintech Measures in 2025

Uzbekistan will introduce open banking under a presidential decision aimed at advancing the country’s fintech sector. The system is scheduled to go live at the start of September next year.

According to the document, open banking will allow secure data exchange between banks, payment firms and other fintech players. The reforms also include a special regime for using tokens as a means of payment from next year. In addition, pilot projects will test payment solutions built on distributed ledger technology, which stores and synchronises information across many computers.

A regulatory sandbox is planned, with its timeframe to be set by the National Agency for Project Management and the Central Bank.

From next year, Uzbek residents will also be able to issue tokenised shares and bonds. A dedicated trading platform for these digital securities will be created on the stock exchange.

Kursiv also reports that the EBRD approved a synthetic local-currency facility worth up to $40 mln for the UzMRC, the country’s sole mortgage refinancing institution.