ACCA has signed Memoranda of Understanding (MoUs) with the Ministry of Economy and Finance of the Republic of Uzbekistan and the Central Bank of the Republic of Uzbekistan. The MoUs are designed to further strengthen cooperation to support the country’s ongoing financial reporting reforms, implementation of international standards, and development of professional capacity across the finance sector. 

The agreements support the implementation of the Resolution of the President of the Republic of Uzbekistan No. PP-282 dated 15 September 2025, On Measures to Improve the Financial Accounting System in Accordance with International Requirements and Standards. The resolution aims to strengthen  corporate financial reporting and further align Uzbekistan's financial ecosystem with international standards and global best practices.  

The MoU signed with the Ministry of Economy and Finance builds on the existing cooperation between ACCA and the Ministry in supporting Uzbekistan’s transition to International Financial Reporting Standards (IFRS) and development of the accountancy profession. 

The a cooperation framework  covers  several  priority areas, including  the development of finance professionals in international financial reporting and auditing standards, capacity building for educators through train-the-trainer initiatives , strengthening audit quality assurance mechanisms, supporting the implementation of sustainability reporting standards, and enhancing professional competencies across the public sector. 

Zhanna Iskenova, Head of ACCA for Central Asia, Armenia and Mongolia, said: ‘This MoU reflects the strong and long-standing cooperation between ACCA and the Ministry of Economy and Finance in supporting Uzbekistan’s financial reporting reforms and development of the accountancy profession. We are proud to continue contributing to the country’s transition towards internationally aligned standards and to support the development of highly skilled finance professionals needed for Uzbekistan’s future economic growth.’ 

The MoU with the Central Bank of Uzbekistan establishes a framework for cooperation to support IFRS implementation within the banking sector and strengthen professional capabilities across the Central Bank and commercial banks. 

The cooperation will include targeted capacity-building programmes, and exploration of sector-specific certification and continuing professional development opportunities for banking professionals. The parties will also explore opportunities to organise specialized short-term training activities involving international subject matter experts. 

Gaukhar Ashirbekova, Public Affairs Lead for Eurasia at ACCA, said: ‘The cooperation with the Central Bank of Uzbekistan represents an important milestone in ACCA’s engagement with the country’s financial sector. We see strong potential to further support the banking sector through international knowledge exchange, professional development initiatives, and capacity building for finance professionals working across the banking sector.’ 

The agreements further reinforce ACCA’s long-term commitment to Uzbekistan and support the country’s broader efforts to strengthen financial transparency, develop internationally aligned professional competencies, and advance sustainable economic growth. 

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We are ACCA (the Association of Chartered Certified Accountants), the only truly global professional accountancy body. Since we were founded in 1904, we’ve been breaking down barriers to the accountancy profession. Today we proudly support a diverse community of over 257,900 members and 530,100 future members in 180 countries.
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