Mamarizo Nurmuratov, the long-serving Chairman of Uzbekistan’s Central Bank, is expected to leave his position following a proposal submitted by President Shavkat Mirziyoyev to the Senate of Oliy Majlis. The announcement was made by the president's press secretary, Sherzod Asadov.

Nurmuratov, 64, has been at the helm of the nation’s monetary policy since June 2017, playing a pivotal role in implementing banking reforms, particularly the liberalization of Uzbekistan's currency system. His leadership marked a transformative era for the country’s financial sector, highlighted by the launch of free currency conversion on September 5, 2017.

Nurmuratov became the second chairman of Uzbekistan's Central Bank, succeeding Fayzulla Mullajanov, who led the institution from its founding in 1991 until his passing in May 2017.

Born in Samarkand in 1960, Nurmuratov’s career spans academia and public service. He began his journey at the Tashkent Institute of National Economy, later earning a degree from the Leningrad Institute of Economics and Finance in 1982. His academic contributions include teaching positions and doctoral research in Moscow, culminating in his appointment as an associate professor.

In 1993, he transitioned to the Central Bank, where he held key positions, including Deputy Chairman and First Deputy Chairman. His extensive experience also includes serving as Uzbekistan’s Minister of Finance from 2000 to 2004 and as the governor of Samarkand region from 2004 to 2006.

Prior to his appointment as Chairman, Nurmuratov chaired the Budget and Economic Reforms Committee in the Senate of the Oliy Majlis.

During his first five-year term as Chairman, Nurmuratov introduced sweeping reforms to modernize the financial sector. The Senate renewed his term, reflecting confidence in his ability to guide the nation’s economic policies.