European Journal of Economics, Finance and Business Development
European Journal of Economics, Finance and Business Development is a scholarly peer reviewed international multidisciplinary Journal. The journal implements double blind peer review for articles. The research manuscript have to pass through the plagiarism check before allotted to the reviewers. The open access journal ensure the quality of published articles. The journal includes wide range of research articles in multidisciplinary areas of Economics, Finance and Business Development. The original review, research, literature, short note, book reviews are welcome to publish in this journal Important information of the Journal: Frequency: 12 issues per Year International License: CC BY Acceptance Status : 1-2 weeks Publication Period : 1-2 weeks ISSN (E): 2938-3633 SJIF 2024: 5.099 Journal Abbreviation: Eur. j. econ. financ. bussiness dev. The scope of the journal is not limited to- Economics Business Development Business Planning Finance Social Work Forensic Science Fashion, Textiles and Luxury Goods Emergency & Disaster Management Food Sciences Museum Studies Real Estate & Property Management
THE DEGREE OF PRODUCTIVITY OF PREFIXES IN THE MODERN UZBEK LANGUAGE
The article investigates the productivity of the prefixal formatives of modern Uzbek and proposes a graded, criterion-based scale in place of the undifferentiated inventories found in the descriptive literature. Productivity is understood in the sense established in general morphology as availability for new coinage, a property distinct from the number of types a pattern has already produced. Because a lemmatised and balanced corpus of modern Uzbek is not yet available, a multi-indicator ordinal procedure is adopted, resting on four diagnostics: dictionary type count, formation of hybrids on inherited Turkic bases, attestation in post-2000 terminology, and acceptability of nonce formations. The procedure yields four tiers, ranging from the fully productive be-, no-, ser-, ham-, anti-, mikro-, eko- and super- to the fossilised bo-, ba-, dil- and sar-. It is shown that type frequency alone misclassifies the fossilised group, which confirms the need for a multi-indicator approach. The principal constraint on productivity is identified as rivalry with the inherited suffixes -siz, -li and -dosh, which yield near-synonymous doublets resolved by functional specialisation rather than by elimination; etymological selectivity and stylistic marking act as secondary constraints. The emergent English-mediated formatives kiber-, onlayn-, veb- and smart- are identified as the principal growth zone of the system.
Uzbek language, prefixation, morphological productivity, affix rivalry, hybrid formation, neologism, terminology, corpus linguistics, hapax legomena, language contact.
Copyright (c) 2026 https://creativecommons.org/licenses/by-nc/4.0
THE STATUS OF JOB RESERVATION AND UTILIZATION FOR PERSONS WITH DISABILITIES IN THE REPUBLIC OF UZBEKISTAN
This article analyzes the practice of reserving jobs to ensure the employment of persons with disabilities in Uzbekistan, its effectiveness, and the existing challenges in this area. The study draws on statistical data and reports of the Ministry of Poverty Reduction and Employment for the period 2018–2024. According to the results of the analysis, the average utilization rate of jobs reserved for socially vulnerable persons was 81.3%, whereas the corresponding figure for persons with disabilities was only 23.7%. One of the main problems identified is that reserved jobs are not sufficiently aligned with the occupations, qualifications, health conditions, working capacities, and individual needs of persons with disabilities. The study also reveals significant regional disparities in vocational training, retraining, and professional development opportunities available to persons with disabilities. The article proposes practical and research-based measures, including determining the number of reserved jobs according to actual demand, establishing a unified electronic register, reviewing vacant reserved positions on a quarterly basis, and adapting them to the professional abilities and qualifications of job seekers.
Persons with disabilities, employment, job reservation, labor market, social protection, vocational training, job placement, vacant positions, electronic register, employment authorities.
THE IMPACT OF ARTIFICIAL INTELLIGENCE TECHNOLOGIES ON STUDENTS' CRITICAL THINKING
This article analyzes the introduction of artificial intelligence technologies into the education system and their role in developing students' critical thinking skills. The study examined the impact of artificial intelligence tools on the competencies of information analysis, evaluation, problem solving, and independent decision-making. The advantages and possible negative aspects of using artificial intelligence were also assessed from a pedagogical point of view. The results of the study showed that the targeted use of artificial intelligence technologies serves to develop students' critical thinking skills.
Artificial intelligence, critical thinking, educational technologies, digital pedagogy, student, competency, innovative education, information analysis.
Makhmudova Dildorkhon Yuldashkhon's daughter
BENEFITS OF GAME ACTIVITY IN THE PSYCHOLOGY OF PRESCHOOL CHILDREN
This article discusses the psychological characteristics of preschool children and individual object games, team role-playing games, not only that these game activities are the basis for changes in the psyche of preschool children, but also that they are healthy. Information is provided on how to shape a healthy lifestyle and create a healthy environment for oneself, as well as create a foundation for being physically fit.
Preschool age, activity, game, speech, subject, development, study of subjects; individual subject games, team role-playing games; individual and group creativity; competitive games; communication games; housework.
IMPROVING THE TAXATION PROCEDURE OF FOREIGN TRADE ACTIVITY: PROBLEMS, CUSTOMS CONTROL AND DIGITAL ADMINISTRATION
The article examines scientific and practical directions for improving the taxation procedure of foreign trade activity on the basis of the third chapter materials of the research work. The study focuses on the main problems and disproportions in the taxation of export-import operations, the growth of problematic foreign trade receivables, the need to improve customs payments and customs control, and the transformation of tax-customs administration through digital technologies. The paper argues that foreign trade taxation should not be interpreted only as a fiscal source of budget revenue. It should be considered as an integrated regulatory mechanism that combines fiscal stability, export incentives, customs transparency, risk-based control and institutional predictability. Particular attention is paid to the repatriation of assets, recognition of hopeless debts, VAT accounting for export operations, electronic contract monitoring and the transition from punitive control to preventive analytical supervision.
Foreign trade activity; taxation; customs payments; customs control; value added tax; profit tax; export operations; asset repatriation; hopeless debt; E-contract; digital customs; risk management; tax administration; fiscal stability.
ECONOMIC SIGNIFICANCE OF ESTABLISHING THE TASHKENT INTERNATIONAL FINANCIAL CENTRE IN UZBEKISTAN
This article examines the reasons, stages, and legal foundations for the establishment and development of the Tashkent International Financial Centre, as well as its strengths and weaknesses, opportunities and threats, sources of financing, investor incentives, tax preferences, contemporary trends, institutional structure, and international competitive advantages.
A financial center, foreign investments, a separate jurisdiction based on English common law, “sandbox” regime, cross-border dispute resolution, a regional treasury center, Islamic finance, financial technologies, family offices, unique selling points.
QUALITY OF LIFE OF THE POPULATION AS A SCIENTIFIC CATEGORY: THEORETICAL APPROACHES TO DEFINITION
In contemporary scientific circles, intense discussions persist regarding the definition of the concept of the "quality of life of the population." To date, a definitive academic consensus has not yet been reached. The primary conceptual challenge lies in delineating the precise boundaries and theoretical differences between two interconnected categories: the "standard of living" and the "quality of life."
MODERN DIRECTIONS FOR IMPROVING CREDIT RISK MANAGEMENT MECHANISMS IN UZBEKISTAN’S BANKING SYSTEM: FOREIGN EXPERIENCE AND NATIONAL PRACTICE
The effective management of credit risk remains one of the most important factors influencing the stability, competitiveness, and sustainable development of banking systems. This study examines modern directions for improving credit risk management mechanisms in Uzbekistan’s banking system through the analysis of foreign experience and national practice. The research explores international approaches to credit risk management, including risk-based supervision, credit portfolio diversification, macroprudential regulation, and the development of credit information infrastructures. In addition, the current state of credit risk management practices in Uzbekistan is assessed, and existing institutional and regulatory challenges are identified. The study applies comparative, analytical, and benchmarking methods to evaluate the applicability of international experience to the national banking environment. Based on the findings, practical recommendations are proposed to strengthen supervisory effectiveness, improve credit risk assessment procedures, enhance credit information systems, and increase the resilience of commercial banks. The results indicate that the adaptation of advanced foreign practices to national conditions can contribute significantly to improving credit risk management mechanisms and supporting the long-term stability of Uzbekistan’s banking sector.
Credit risk management, banking system, foreign experience, national practice, risk-based supervision, credit portfolio diversification, macroprudential regulation, banking stability, credit information systems, commercial banks, Uzbekistan.
DIGITAL TRANSFORMATION AS A CATALYST FOR ECONOMIC MODERNIZATION IN UZBEKISTAN: OPPORTUNITIES AND STRATEGIC DIRECTIONS
Digital transformation has become a key factor in economic modernization, enhancing productivity, innovation, and national competitiveness. Uzbekistan has identified the development of the digital economy as a strategic priority and is implementing comprehensive reforms to accelerate digitalization. This study examines the theoretical foundations of the digital economy and analyzes the main directions of digital transformation in Uzbekistan, with particular attention to e-government, digital financial services, digital infrastructure, and IT entrepreneurship. The research is based on qualitative methods, including institutional and comparative analysis. The findings suggest that digital transformation contributes to economic modernization by reducing transaction costs, improving public services, and fostering innovation-driven growth. However, challenges such as digital inequality, cybersecurity risks, and the need for skilled human capital remain significant. The study concludes that sustainable digital development requires a combination of technological innovation, institutional reforms, investment in digital infrastructure, and the enhancement of digital competencies. These measures can strengthen Uzbekistan's competitiveness and support its integration into the global digital economy.
Digital transformation, digital economy, economic modernization, e-government, fintech, digital infrastructure, innovation, Uzbekistan.
MODERN METHODS OF ENTERPRISE MANAGEMENT IN THE DIGITAL ECONOMY
This article examines modern methods of enterprise management in the context of the digital economy and analyzes their role in improving organizational performance. The rapid development of digitalization has increased the importance of utilizing information and communication technologies, automating business processes, and implementing data-driven management systems in enterprise operations. The study highlights the advantages and practical application of contemporary management approaches such as Agile, Lean Management, Enterprise Resource Planning (ERP), and Customer Relationship Management (CRM) systems. Furthermore, the impact of emerging technologies, including Artificial Intelligence (AI), Big Data, cloud computing, and the Internet of Things (IoT), on enterprise management is investigated. The findings indicate that integrating digital technologies into management processes contributes to cost reduction, increased labor productivity, efficient resource utilization, and enhanced enterprise competitiveness. The article also presents scientific conclusions and practical recommendations regarding the organizational, technological, and human resource factors required for successful digital transformation.
Digital economy, enterprise management, digital transformation, artificial intelligence, Big Data, ERP, CRM, Agile, Lean Management, cloud computing, IoT.
CREDIT PORTFOLIO DIVERSIFICATION AND CREDIT RISK MANAGEMENT IN COMMERCIAL BANKS: MODERN CHALLENGES AND IMPROVEMENT DIRECTIONS
Credit operations represent one of the most important areas of commercial banks’ activities and play a crucial role in financing economic development. The efficiency and sustainability of lending activities largely depend on the availability of sufficient financial resources, the level of capitalization, liquidity position, and profitability of banks. Therefore, ensuring resource adequacy has become one of the key prerequisites for expanding credit operations while maintaining financial stability. This study examines the issues of resource adequacy for improving credit operations in commercial banks. Based on statistical data from the Central Bank of the Republic of Uzbekistan, the research analyzes the dynamics of capital adequacy, liquidity indicators, profitability measures, and the financial capacity of the banking sector. The findings demonstrate that the strengthening of regulatory capital, improvement of liquidity positions, and growth in profitability indicators have created favorable conditions for expanding lending activities and supporting the real sector of the economy. However, further improvement of credit operations requires the diversification of funding sources, expansion of the deposit base, enhancement of long-term financing mechanisms, and improvement of resource management efficiency.
Commercial banks, credit operations, resource adequacy, capital adequacy, liquidity management, banking resources, financial stability, profitability, deposits, lending capacity.
THE IMPACT OF THE COMPETITIVE ENVIRONMENT IN COMMERCIAL BANKS ON GREEN FINANCE DEVELOPMENT: THE CASE OF UZBEKISTAN
The transition to a green economy has become a central priority of Uzbekistan's development agenda, and the banking sector is the principal channel for mobilising finance toward environmentally sustainable investment. While the determinants of green finance have been widely studied, the role of banking competition has received limited attention, especially in emerging, bank-based economies. This article develops a conceptual-institutional framework for the relationship between competition in the commercial banking sector and the development of green finance in Uzbekistan. The institutional analysis shows that Uzbekistan's banking-reform strategy and its green-finance legal framework constitute two mutually reinforcing policy tracks. The article concludes that fostering a competitive banking environment is a promising, under-used lever for accelerating green finance, and offers policy recommendations tailored to Uzbekistan.
Banking competition, green finance, green credit, ESG, fintech, financial intermediation, Uzbekistan.
THEORETICAL FOUNDATIONS OF THE EFFECTIVE USE OF ECONOMIC POTENTIAL IN STRATEGIC MANAGEMENT
The article presents the role and significance of economic potential in the organization of modern management activities in the activities of economic entities, as well as the theoretical significance of economic interpretation. Along with the systematic organization of management activities in economic entities, the issues of analyzing and improving the organization of production based on the results of economic analysis are discussed.
Modern management, economic potential, financial potential, production potential, systemic analysis.
THEORETICAL FOUNDATIONS AND PRACTICAL ASSESSMENT OF FISCAL INSTRUMENTS IN SUPPORTING ECONOMIC SECTORS
The article examines the theoretical, methodological and practical aspects of using fiscal instruments to support economic sectors. The study systematizes the economic nature of fiscal policy, the evolution of tax and budget instruments, and their role in stimulating investment activity, production modernization, employment and fiscal sustainability. Particular attention is paid to the relationship between tax incentives, subsidies, budget transfers, public expenditure and targeted financial support in the development of industry, agriculture, services, export-oriented production and small business. The article argues that the effectiveness of fiscal instruments should be assessed not only through the amount of allocated resources or granted preferences, but also through measurable sectoral outcomes, including value added, investment growth, productivity, employment, export potential and the stability of budget revenues. Based on the materials of the first and second chapters, a conceptual and analytical framework is proposed for evaluating fiscal support mechanisms in the context of sustainable economic growth.
Fiscal instruments; fiscal policy; tax incentives; subsidies; budget expenditures; economic sectors; public finance; sectoral development; budget stability; investment activity; fiscal efficiency; economic growth.
EXISTING PROBLEMS IN ENHANCING THE COUNTRY’S INVESTMENT ATTRACTIVENESS FOR ATTRACTING FOREIGN INVESTMENTS AND WAYS TO OVERCOME THEM
This article examines the existing problems in enhancing the country’s investment attractiveness for attracting foreign investments and analyzes possible ways to overcome them. The study investigates the role of investment attractiveness in ensuring sustainable economic growth, industrial modernization, export expansion, and technological development. Particular attention is paid to institutional reforms, infrastructure development, macroeconomic stability, digital transformation, and regional investment disparities influencing foreign investment inflows into Uzbekistan. The research also identifies the main economic and organizational factors limiting investment attractiveness and evaluates practical mechanisms for improving the investment climate. Based on international experience and current economic reforms, scientific conclusions and practical recommendations aimed at increasing the efficiency of foreign investment attraction have been developed.
Investment attractiveness, foreign investments, foreign direct investment, investment climate, institutional reforms, infrastructure development, macroeconomic stability, digital economy, regional disparities, innovation policy, economic modernization, investment environment, sustainable economic growth.
THE IMPACT OF DIGITAL TRANSFORMATION ON INVESTMENT ATTRACTIVENESS IN UZBEKISTAN: EMPIRICAL ANALYSIS AND REGIONAL COMPARISON
This article empirically examines the impact of digital transformation on Uzbekistan's investment attractiveness using correlation-regression analysis methods. Based on official data from UNCTAD, the World Bank, and IT Park for the period 2018–2023, a very strong relationship was established between the number of IT Park residents and IT services exports (r = 0.994, p < 0.001), and between fintech companies and online payments (r = 0.998, p < 0.001). However, the relationship between FDI and internet coverage was found to be statistically insignificant (p > 0.05), indicating that investment decisions depend not only on infrastructure but more so on the quality of the institutional environment. Regional comparison (Uzbekistan, Kazakhstan, Georgia) reveals that Uzbekistan leads the region in IT export growth (+1,114%, 2018–2023), yet lags behind neighboring countries in the FDI/GDP ratio (2.4%) and institutional indicators.
Digital transformation, investment attractiveness, foreign direct investment, IT sector, correlation-regression analysis, regional comparison.
ASSESSMENT OF INSOLVENCY AND ITS IMPORTANT ASPECTS
This article describes the problematic aspects of assessing the current and future state of financial capabilities of enterprises, their ability to fulfill financial obligations, timely repayment of debts, cash flow, and their analytical conclusions, as well as important aspects of international practice and its application in Uzbekistan. It also identifies important areas for early detection of economic insolvency and combating it.
Economic insolvency, bankruptcy, insolvency, financial instability, financial condition, financial performance, economic insolvency
FINANCING OF INVESTMENTS IN THE REAL SECTOR OF THE ECONOMY IN DEVELOPED COUNTRIES
Based on the experience of developed countries, the article tried to reveal the peculiarities of financing investments in the real sector of the economy, that is, fixed capital. The study revealed that in countries where the share of fixed capital investments in GDP decreased, global trends, economic conditions and changes in economic structure were more pronounced, while in countries where the share of investments in GDP increased, active public investment policy, post-pandemic recovery strategy, trends in transition to a capital-intensive growth model were identified. Also, at the end of the study, relevant conclusions and recommendations are given.
Investment, real investments, venture capital, investment funds, capital market, credit, bonds, government grants, inflation, economic situation.
UZBEKISTAN'S STRATEGY FOR TRANSITIONING TO A "GREEN ECONOMY": EXISTING CHALLENGES AND PROMISING OPPORTUNITIES
This article analyzes Uzbekistan's transition process to a green economy, strategic directions, existing challenges and development prospects. The research examines the country's efforts in developing renewable energy sources, reducing greenhouse gas emissions and ensuring sustainable economic growth. According to 2024 statistical data, Uzbekistan has increased green energy production capacity to 2.4 gigawatts and achieved an 18% share of renewable energy. The article presents the main obstacles to the green economy transition, including financial constraints, technological deficiencies and institutional weaknesses. Research results indicate that international cooperation and investments play a crucial role in Uzbekistan's green transformation.
Green economy, renewable energy, sustainable development, climate change, greenhouse gases, environmental strategy.
ASSESSMENT OF THE LEVEL OF USE OF DIGITAL PLATFORMS AND E-COMMERCE SYSTEMS BY SMALL BUSINESSES AND THEIR IMPACT ON THEIR ECONOMIC EFFICIENCY
This study examines the level of utilization of digital platforms and e-commerce systems by small businesses and evaluates their impact on economic efficiency. In the context of the modern digital economy, small and medium-sized enterprises increasingly adopt digital technologies such as online marketplaces, social media marketing tools, cloud-based accounting systems, digital payment solutions, and logistics management platforms to improve their operational performance. The research highlights that the integration of digital platforms enables small businesses to automate business processes, reduce operational costs, expand market access, and strengthen customer engagement.
Small business, digital platforms, e-commerce, economic efficiency, digital payments, digital transformation, competitiveness.
THE CURRENT MECHANISM FOR FINANCING HIGHER EDUCATION INSTITUTIONS
Modernization of the higher education system in our country, ensuring its economic independence, as well as improving the mechanisms of financing from extra-budgetary funds, is of urgent importance. In this regard, the need for accurate and effective accounting of the financial activities of higher education institutions, in particular, their income and expenses, and the use of advanced methods of accounting and financial analysis is increasing. Higher education institutions receive income from various sources in the implementation of their activities - the state budget, grants, income from paid-contract education, sponsorship, and other services. At the same time, their expenses are also multifaceted and are directed to the organization of the educational process, scientific research, development of the material and technical base, advanced training of personnel, and other areas. Therefore, it will be possible to ensure the economic stability of educational organizations by in-depth study of the scientific and theoretical foundations of accounting for income and expenses, their classification, development and implementation of modern mechanisms of financial accounting and reporting.
Higher education, income, expenditure, budget organization, budget expenditures, budget system, fiscal year, extrabudgetary funds.
IMPLEMENTATION AND IMPROVEMENT OF ENTERPRISE RISK MANAGEMENT (ERM) SYSTEMS IN RETAIL BANKING SERVICES
This article examines the issues of implementing and improving Enterprise Risk Management (ERM) systems in retail banking services. In the context of rapid digital transformation and increasing complexity of financial operations, retail banks are exposed to a wide range of risks, including credit, operational, liquidity, and fraud-related risks. Effective management of these risks requires an integrated and systematic approach. The study analyzes the theoretical foundations of ERM, international best practices, and modern approaches to integrated risk management in the banking sector. Particular attention is given to the development of a comprehensive ERM framework that ensures coordination among different risk categories and enhances decision-making processes. In addition, the paper identifies key challenges in the implementation of ERM systems in the banking practice of Uzbekistan and proposes practical recommendations for their improvement. The findings of the study contribute to strengthening risk management systems in retail banking and improving the overall stability and efficiency of financial institutions
Retail banking services, enterprise risk management, ERM, retail banking risk, integrated risk management, credit risk, operational risk, fraud risk, risk assessment, banking system stability.
INTERNATIONAL EXPERIENCE IN APPLYING ARTIFICIAL INTELLIGENCE IN THE ECONOMIC AND MANAGEMENT SECTORS: CASE STUDIES OF THE USA, SINGAPORE, SOUTH KOREA, AND ESTONIA
Artificial intelligence (AI) has rapidly evolved from a narrow research field into a general-purpose technology reshaping productivity, competitiveness, and the organization of public administration. This article examines the international experience of applying AI in the economic and management sectors through four distinctive case studies: the United States, Singapore, South Korea, and Estonia. Each of these economies has pursued a different model of AI deployment, reflecting its size, industrial structure, administrative tradition, and strategic priorities. The United States represents a market-driven, private-sector-led ecosystem with the deepest pool of capital and frontier research. Singapore illustrates a compact, centrally orchestrated "whole-of-economy" strategy anchored in strong governance and talent cultivation. South Korea has anchored its approach in industrial AI, using manufacturing transformation and sovereign computing capacity to offset demographic decline. Estonia exemplifies the full integration of AI into e-government and public-service delivery, building on more than two decades of digital statehood. The article compares policy frameworks, flagship initiatives, adoption indicators, and governance arrangements, and draws conclusions relevant to other economies seeking to harness AI for sustainable growth and public-sector modernization.
policy frameworks, flagship initiatives, adoption indicators, and governance arrangements
EFFICIENCY OF USING STATE BUDGET FUNDS IN SUPPORTING LOW-INCOME POPULATION
This study examines the efficiency of utilizing state budget funds in supporting low-income populations. The research focuses on analyzing the allocation mechanisms, targeting accuracy, and socio-economic impact of public expenditures aimed at poverty reduction and social protection. Particular attention is given to the effectiveness of budgetary programs, including social transfers, subsidies, and welfare initiatives, in improving the living standards of vulnerable groups. The study also explores existing challenges such as resource misallocation, administrative inefficiencies, and lack of transparency. Based on comparative analysis and empirical observations, the paper proposes recommendations to enhance the efficiency, accountability, and sustainability of public spending. Strengthening monitoring systems, improving targeting mechanisms, and adopting digital tools are identified as key factors for increasing the overall impact of state budget support.
State budget, low-income population, social protection, public expenditure efficiency, poverty reduction, social assistance, welfare programs, budget allocation, economic policy, social support.
WАYS TО STRЕNGTHЕN THЕ RЕSОURСЕ BАSЕ IN INСRЕАSING THЕ INVЕSTMЕNT PОTЕNTIАL ОF СОMMЕRСIАL BАNKS
This аrtiсlе аnаlyzеs thе impоrtаnсе оf grееn finаnсing аnd sustаinаblе finаnсе соnсеpts in thе mоdеrn finаnсiаl systеm, thеir rоlе in thе invеstmеnt асtivitiеs оf соmmеrсiаl bаnks, аnd thеir impасt оn есоnоmiс аnd еnvirоnmеntаl еffiсiеnсy. In thе соntехt оf сlimаtе сhаngе аnd nаturаl rеsоurсе sсаrсity, thе nесеssity оf implеmеnting еnvirоnmеntаlly rеspоnsiblе finаnсiаl instrumеnts in thе bаnking systеm is substаntiаtеd. Thе аrtiсlе highlights thе есоnоmiс еssеnсе оf instrumеnts suсh аs grееn dеpоsits, grееn lоаns, аnd grееn bоnds, thеir rоlе in risk mаnаgеmеnt, invеstmеnt pоrtfоliо divеrsifiсаtiоn, аnd thе implеmеntаtiоn оf ЕSG prinсiplеs. Аlsо, thе prасtiсе оf grееn finаnсing аnd its dynаmiсs аrе аnаlyzеd оn thе ехаmplе оf JSСB “Uzprоmstrоybаnk” аnd trеnds аnd prоspесts in this dirесtiоn аrе shоwn. Thе rеsults оf thе аrtiсlе соnfirm thаt grееn finаnсе instrumеnts fоr bаnks аrе а strаtеgiс tооl fоr еnsuring sustаinаblе dеvеlоpmеnt.
Grееn finаnсе, sustаinаblе finаnсе, ЕSG prinсiplеs, grееn dеpоsits, grееn lоаns, grееn bоnds, соmmеrсiаl bаnks, invеstmеnt асtivitiеs, risk mаnаgеmеnt, sustаinаblе dеvеlоpmеnt.
TOPICAL ISSUES OF CREDIT MARKET DEVELOPMENT IN UZBEKISTAN
The credit market is one of the main segments of the national financial market. It ensures the flow of credit resources, and credit is an important factor in ensuring economic growth while maintaining macroeconomic stability. This article identifies current issues related to the development of the credit market in Uzbekistan and develops research proposals aimed at addressing these challenges. Specifically, it substantiates the need to develop the credit market by improving the credit market regulation system and reducing the state's share in the regulatory capital of commercial banks.
Credit, credit market, credit resources, commercial bank, interest rate, refinancing policy, key rate.
ENHANCING INVESTMENT PROCESSES THROUGH ALTERNATIVE FINANCING MECHANISMS IN ASIAN ECONOMIES
This study examines the role of alternative financing mechanisms in enhancing investment processes in Asian economies, with particular focus on countries such as China, Japan, and South Korea. The research explores how non-traditional financial instruments—including venture capital, crowdfunding, peer-to-peer lending, and private equity—contribute to improving access to capital, increasing investment efficiency, and supporting economic growth. The paper analyzes theoretical approaches and empirical trends related to the development of alternative financing in the region, highlighting the impact of financial technologies and institutional frameworks. In addition, the study identifies key challenges such as regulatory gaps, risk management issues, and uneven development of financial infrastructure across countries. The findings suggest that the integration of alternative financing mechanisms with traditional financial systems, along with strong institutional support and digital innovation, plays a crucial role in enhancing investment activity in Asian economies.
Asian economies, alternative financing, investment processes, crowdfunding, venture capital, peer-to-peer lending, private equity, FinTech, financial innovation, investment efficiency.
PROBLEMS AND PROSPECTS OF INTRODUCING “GREEN” SUKUK IN UZBEKISTAN
This article based on data from the World Bank and official national sources, a comparative analysis has been conducted on the structure, terms, yields, and allocation of proceeds of green bonds and sukuk in international practice. These findings provide an important theoretical and practical foundation for the development of the green sukuk market in Uzbekistan. The results of the study indicate that, despite the significant potential of green sukuk to attract capital and finance environmentally sustainable projects, several challenges remain in their implementation. In particular, risks such as greenwashing, the high cost of financial instruments, currency mismatches, and the insufficient development of the regulatory and legal framework constitute major barriers. The experience of Uzbekistan and developed countries demonstrates that properly structured and institutionally supported green sukuk, in compliance with Sharia principles, can serve as an effective instrument for mobilizing investment. In conclusion, it should be emphasized that the successful introduction of green sukuk in Uzbekistan requires the deepening of institutional reforms, ensuring transparency, improving the regulatory framework in line with international standards, and integrating this instrument into the country’s public financial policy.
Green sukuk, green economy, public–private partnership (PPP), Developing countries; Special Purpose Vehicle (SPV), ESG investment; Greenwashing; Public debt; SDG bonds; Sustainability-linked finance, Climate Bonds Initiative.
THE ROLE AND EFFECTIVENESS OF THE CORPORATE GOVERNANCE SYSTEM IN SHAPING A COMPANY'S FINANCIAL STRATEGY
This article examines the role and effectiveness of the corporate governance system in shaping a company's financial strategy. The study analyzes corporate governance mechanisms, the involvement of the Chief Financial Officer (CFO) in strategic and operational decision-making, financial risk management, and resource utilization. The research demonstrates that an effective corporate governance system contributes to enhanced financial stability, the rational allocation of resources, and increased market competitiveness.
Corporate governance, financial strategy, Chief Financial Officer (CFO), risk management, resources, effectiveness, strategic decisions, investments, stability, competitiveness.
FINANCING DIGITAL TRANSFORMATION IN EMERGING MARKET SPECIAL ECONOMIC ZONES
This paper examines the critical issues surrounding the financing of digital transformation initiatives within Special Economic Zones (SEZs) in emerging markets. It identifies key challenges such as inadequate infrastructure, limited access to capital, regulatory uncertainties, and a lack of skilled human resources that hinder the successful implementation of digital projects. The study explores various financing mechanisms, including public-private partnerships, venture capital, green finance, and international development aid, and analyzes their suitability for SEZs. Furthermore, it discusses the potential of emerging financial technologies (fintech) to bridge financing gaps and accelerate digital adoption. The paper concludes by offering policy recommendations aimed at creating a more conducive financial ecosystem for digital transformation in these strategic economic enclaves.
Digital economy, special economic zones, investment projects, financing, digital technologies, innovative financing.