FORMATION OF INTER-SYSTEM COMPETITION IN UZBEKISTAN’S FINANCIAL MARKET AND PROSPECTS FOR THE DEVELOPMENT OF A DUALISTIC FINANCIAL MODEL
DOI:
https://doi.org/10.60078/3060-4842-2025-vol2-iss6-pp401-417Abstract
The aim of this study is to analyse the formation of instrument-level, institutional, sectoral, and system-level competition in Uzbekistan’s financial market through the introduction of a dualistic financial system. Using a qualitative research approach, the study examines the institutional, legal, and economic implications of the dualistic model and explores its potential for enhancing competition. The findings indicate that the financial market remains insufficiently diversified, with financing sources relying predominantly on the banking sector. The study also identifies that the dualistic financial system may generate a new form of competition inter-system competition thereby improving efficiency within the financial services segment and contributing to market diversification. The research substantiates the institutional prerequisites, infrastructural requirements, and priority directions necessary for the implementation and sustainable development of this system
Keywords:
Dualistic finance inter-instrument competition inter-institutional competition inter-sectoral competition inter-system competition conventional banking Islamic banking IsDBGReferences
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