On November 10, 2023, the Department of International Finance and Credit at the Tashkent Institute of Finance hosted an international scientific seminar on "The Strategic Path for the Development of International Financial Relations in Uzbekistan" as part of the Jean Monnet Modules grant "European Digital Finance Strategy: Best Practices for Uzbekistan."
 

During the seminar, Jakhongir Yakubov, a lecturer at the Department of International Finance and Credit and a member of the Jean Monnet Actions grant "European Digital Finance Strategy: Best Practices for Uzbekistan," delivered a lecture on "European Digital Finance Strategy: Best Practices for Uzbekistan."












The lecture covered the following topics:
 

• The goals of the "Digital Finance Strategy in the European Union" module
• The financial and banking system of the European Union, in particular, the state of development of digital finance in it
• Opportunities and challenges associated with digitalization in the European Union
• Conditions for the formation of a single digital market for digital finance
• The process of using the experience of EU countries in the development of digital finance in Uzbekistan
• The use of new digital opportunities in the field of financial services and payments
• The management of associated risks
   

Mr. Yakubov noted that the European Union has a well-developed strategy for the development of digital finance. This strategy is based on the following principles:
 

• Openness and cooperation
• Innovation and competition
• Consumer protection and financial stability
   

He also discussed the opportunities and challenges associated with the development of digital finance in Uzbekistan. He noted that Uzbekistan has the potential to benefit from the development of digital finance, but there are also some challenges that need to be addressed.

These challenges include:

• The need to develop the necessary infrastructure
• The need to educate consumers about digital finance
• The need to regulate digital finance in a way that protects consumers and promotes financial stability

Mr. Yakubov concluded by calling for the government of Uzbekistan to take steps to address these challenges and to adopt a strategy for the development of digital finance.

The seminar was attended by over 100 people, including representatives from Uzbekistan, the European Union, and other countries. The seminar was a valuable opportunity for participants to learn about the European Union's digital finance strategy and to discuss the challenges and opportunities associated with the development of digital finance in Uzbekistan.