About Central Bank of Uruguay
1991 year made a start to formation of a number of the banks which functioning in changed conditions of the development of the economy of Uzbekistan gradually obtained new features assimilating modern methods of work. 1991-1992 years became a turning period of banking operation. The adoption of the law of Uzbekistan “About the banks and banking activity” was the base to form two-level banking system and created the Central bank of the republic entrusting new functions to it. It was put the tasks of regulation of monetary circulation and payment system as well as the formation of the commercial banking structure before it. So the formed specialized commercial banks should finance the different brunches of the economy that started to work out the new strategy of their development and form their internal structure on the base of modern principles and requirements.
In 1993-1994 years the reform of banking system went on. Introduction into circulation the national currency so’m since July 1, 1994 became an important landmark in the formation of independent banking system and the development of the economy of Uzbekistan as a whole. In fact it meant that the Central bank became independent completely in its activity and further it could facilitate the effective formation of the national monetary system by market instruments of its regulation. Just from that time the activity of the CBRU on carrying out the tactics on conduction of monetary and credit policy and currency regulations, regulation of banking activity, then formation of effective payment system was completely targeted at provision of steady national currency… Continue reading about Central Bank of Uruguay here.