Preparing state-owned commercial banks for privatization: institutional transformation, corporate governance, and capital market readiness in Uzbekistan

Salamov, Islam

Муҳандислик ва Иқтисодиёт · 2026-yil

Annotatsiya

The privatization of state-owned commercial banks represents a critical component of Uzbekistan’s banking-sector transformation and its transition toward a more competitive, market-oriented financial system. The institutional,financial, and managerial processes required to prepare state-owned commercial banks for effective privatization areexamined, with particular attention to corporate governance, asset quality, risk management, financial transparency,digital transformation, ESG principles, and capital-market readiness. The study employs comparative and institutionalanalysis, financial assessment, and case-study methods, with particular emphasis on the transformation experience ofTuronbank JSC. A conceptual framework for assessing the privatization readiness of state-owned banks is developedacross eight dimensions: financial stability, asset quality, corporate governance, risk management, digital transformation,IFRS-based financial reporting and transparency, ESG readiness, and capital-market preparedness. The findings indicatethat successful privatization extends beyond the transfer of state ownership and requires comprehensive pre-privatizationtransformation aimed at improving banks’ financial condition, strengthening corporate governance mechanisms, reducingdependence on directed lending, enhancing transparency, and increasing investor confidence. A phased privatizationmodel combining strategic investor participation with a subsequent public offering is proposed as an approach to reducingtransition risks and creating conditions for sustainable private-sector participation. The experience of Turonbank JSCdemonstrates the importance of international financial standards, institutional transformation, enhanced risk management,and international credit ratings in increasing investment attractiveness. The proposed framework can serve as ananalytical instrument for assessing the privatization readiness of state-owned banks in Uzbekistan and for designing moretransparent and economically efficient privatization policies

Maqola ma’lumotlari
MualliflarSalamov, Islam
JurnalМуҳандислик ва Иқтисодиёт
NashriyotПлеханов номидаги Россия иқтисодиёти университетининг Тошкент шаҳридаги филиали
ISSN3060-463X, 3060-463X
Nashr sanasi2026-09-05
Jild4
Betlar28-33
TilIngliz
Ilmiy sohaIqtisodiyot
Indeksga qo‘shilgan2026-09-20

Maqolaning asl sahifasi

Kalit so‘zlar

state-owned commercial banks; bank privatization; banking-sector transformation; corporate governance; financial stability; asset quality; risk management; IFRS; ESG; IPO; strategic investors; capital market; Uzbekistan; Turonbank JSC.

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APASalamov, Islam (2026). PREPARING STATE-OWNED COMMERCIAL BANKS FOR PRIVATIZATION: INSTITUTIONAL TRANSFORMATION, CORPORATE GOVERNANCE, AND CAPITAL MARKET READINESS IN UZBEKISTAN. Муҳандислик ва Иқтисодиёт, 4, 28-33. https://muhandislik-iqtisodiyot.uz/index.php/journal/article/view/4200
GOST (OAK)Salamov, Islam PREPARING STATE-OWNED COMMERCIAL BANKS FOR PRIVATIZATION: INSTITUTIONAL TRANSFORMATION, CORPORATE GOVERNANCE, AND CAPITAL MARKET READINESS IN UZBEKISTAN // Муҳандислик ва Иқтисодиёт. – 2026. – T. 4. – P. 28-33.
MLASalamov, Islam. “PREPARING STATE-OWNED COMMERCIAL BANKS FOR PRIVATIZATION: INSTITUTIONAL TRANSFORMATION, CORPORATE GOVERNANCE, AND CAPITAL MARKET READINESS IN UZBEKISTAN.” Муҳандислик ва Иқтисодиёт, 4, 28-33, 2026. https://muhandislik-iqtisodiyot.uz/index.php/journal/article/view/4200
ChicagoSalamov, Islam. “PREPARING STATE-OWNED COMMERCIAL BANKS FOR PRIVATIZATION: INSTITUTIONAL TRANSFORMATION, CORPORATE GOVERNANCE, AND CAPITAL MARKET READINESS IN UZBEKISTAN.” Муҳандислик ва Иқтисодиёт, 4, 28-33 (2026). https://muhandislik-iqtisodiyot.uz/index.php/journal/article/view/4200
HarvardSalamov, Islam (2026) ‘PREPARING STATE-OWNED COMMERCIAL BANKS FOR PRIVATIZATION: INSTITUTIONAL TRANSFORMATION, CORPORATE GOVERNANCE, AND CAPITAL MARKET READINESS IN UZBEKISTAN’, Муҳандислик ва Иқтисодиёт, 4, 28-33. https://muhandislik-iqtisodiyot.uz/index.php/journal/article/view/4200
BibTeX
@article{salamovislam2026,
  title = {PREPARING STATE-OWNED COMMERCIAL BANKS FOR PRIVATIZATION: INSTITUTIONAL TRANSFORMATION, CORPORATE GOVERNANCE, AND CAPITAL MARKET READINESS IN UZBEKISTAN},
  author = {Salamov, Islam},
  journal = {Муҳандислик ва Иқтисодиёт},
  year = {2026},
  volume = {4},
  pages = {28-33},
  url = {https://muhandislik-iqtisodiyot.uz/index.php/journal/article/view/4200}
}

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