President Shavkat Mirziyoyev signed a decree on measures to improve the training system in the banking-finance sphere.

The head of state approved the proposal to transfer the Banking-Finance Academy to the management of NBU, identifying it as the academy's founder.

The educational institution will retain the existing programs of study for persons admitted to the graduate school of the academy in 2018-2019, as well as the procedure for financing costs from the state budget until the completion of training for people studying in the master’s degree on the basis of a state grant.

The National Bank of Uzbekistan was instructed to develop a concept for development of the academy in 2020-2025 by ensuring that it is included in the list of higher educational institutions in the ranking of internationally recognized organizations.

The document also defines the basic principles for development of personnel potential of the banking system of Uzbekistan, which includes:

- a systematic approach to training based on international standards and international best practices;

- introduction of a bonus system of remuneration for managerial, middle and lower level personnel of commercial banks based on qualifications, key performance indicators (KPI);

- continuity of training, retraining and advanced training of personnel, ensuring compliance of training programs with digital technologies widely used by modern commercial banks;

- providing training for management personnel, specialists in the field of investment banking, project financing, risk management, information and communication technologies, having the qualifications and experience required for the respective position;

- providing students with knowledge and formation of skills necessary for effective work in a tactical and strategic perspective.