Analysis of Issuance Operations of Commercial Banks in Uzbekistan’s Securities Market

Abstract

This article analyzes the theoretical approaches to the issuance operations of commercial banks in the securities market, considers the views of economists, and examines practical challenges. In addition, proposals and recommendations have been developed regarding the issuance activities of banks in this market. This article provides an in-depth analysis of the emission (issuance) operations of commercial banks in the securities market of the Republic of Uzbekistan. In recent years, the structural changes taking place in the country's financial market, the expansion of banks' investment activities, the increase in the level of capitalization and the role of securities in attracting savings from the population are gaining particular importance. Practical experiences of commercial banks in ensuring financial stability through the placement of shares and bonds, expanding lending opportunities and supporting the real sector of the economy are analyzed. The article also examines the legal and regulatory framework of the emission process, existing mechanisms for issuing securities, and state regulation and monitoring systems. Based on the best practices used in the global financial market, ways to further improve emission operations in Uzbekistan are indicated. The analysis shows that the issuance activities of banks, along with increasing their level of capitalization, also serve as an important tool for strengthening the confidence of shareholders and investors, improving transparency and corporate governance. The article also highlights the effectiveness of commercial banks in attracting financial resources through the issuance of securities, their impact on economic development, and their role in improving the investment climate. Based on the analysis conducted by the author, scientific and practical recommendations have been developed on the prospects for the development of the securities market, the liberalization of issuance mechanisms, and the use of innovative financial instruments.