The training center of “Trustbank” and the legal department organized a regular online seminar for employees on the topic of "Issues of improving banking legislation".
Although the legal department does not bring financial benefits to the bank, thanks to its work, it plays an important role in terms of security, sustainability and preservation of the bank's capital.
As in any field, the work of lawyers in credit institutions is unique. They need to be aware of the changes in the legislation base. Besides knowledge of all legislation norms, they need to understand well about the aspects of monetary relations, understand the technologies and mechanisms of new products and services. They should also have in-depth knowledge of account management, crediting, currency coordination and other banking operations.
In particular, last year, in a new edition, 4 laws were adopted aimed at improving monetary-credit policy, the activities of commercial banks, deepening market mechanisms, liberalizing the foreign exchange market, developing services provided through payment systems - "About the Central Bank of the Republic of Uzbekistan", "About Banks and Banking Activities", "About Currency Regulation" and "About Payments and Payment Systems".
In his report, the director of the Bank's Legal Department, Murod Mambetov, talked about the formation of a banking legislation platform in the country, meeting the demand for financial services during the banking system reform period, increasing the popularity of banking services, the main directions of radical transformation of the banking sector, and also paid special attention to the mechanism of bank resolution and legal aspects of the return of allocated loans in the context of the current pandemic.