Project to Replace the Core Banking System: Summary of the Meeting with the Central Bank of Uzbekistan

Recently, a meeting took place between the leadership of JSCMB Ipoteka Bank and the Central Bank of the Republic of Uzbekistan. During the meeting, key aspects of the project to replace the Automated Banking System (ABS) were discussed. This significant project is part of the broader transformational program Gavhar, initiated after the bank was acquired by OTP Group.

During the meeting, issues were raised regarding the need to appoint responsible persons from the Central Bank of Uzbekistan to oversee the bank's transition from one system to another. The parties touched upon the specific requirements of Uzbek legislation concerning the ABS change, as well as the certification of the ABS in our country. Communication plans with customers and the possibility of obtaining delays in regulatory changes during the period between testing and launching the new system were also discussed.

The leadership of the Central Bank of Uzbekistan agreed that the ABS replacement project is an important step toward increasing the bank's operational efficiency and flexibility. Given that the full-scale implementation of the project began in May of this year and the transition to the new system is scheduled for September 1, 2025, the project timelines are quite ambitious. At the same time, representatives of the Central Bank emphasized their readiness to provide all possible support to Ipoteka-Bank in advancing this project, which will become a flagship in our banking system.

Stay tuned for further updates to keep abreast of all stages of this significant project.