Ziyodullo Parpiev, PhD, Course Leader on the MSc in Applied Economics, has been appointed as one of two independent members of the Board of the Central Bank by the Senate Council of the Oliy Majlis in the Republic of Uzbekistan. According to a new Law ‘On the Central Bank’, which replaces the 1995 law, the Board of the Central Bank has been restructured and will now consist of 9 members, including 2 independent members.
This is an important amendment, which guarantees greater transparency and accountability of the institution. The appointment of independent members will lead to improved corporate governance within the bank. The independent members are expected to take objective and unbiased decisions to enhance trust in the bank and strengthen its financial stability. The new edition of the law was signed by the President of Uzbekistan Shavkat Mirziyoyev on November 11, 2019.