The aim of this study is to analyse the formation of instrument-level, institutional, sectoral, and system-level competition in Uzbekistan’s financial market through the introduction of a dualistic financial system. Using a qualitative research approach, the study examines the institutional, legal, and economic implications of the dualistic model and explores its potential for enhancing competition. The findings indicate that the financial market remains insufficiently diversified, with financing sources relying predominantly on the banking sector. The study also identifies that the dualistic financial system may generate a new form of competition inter-system competition thereby improving efficiency within the financial services segment and contributing to market diversification. The research substantiates the institutional prerequisites, infrastructural requirements, and priority directions necessary for the implementation and sustainable development of this system

This article is dedicated to the consideration of important issues of increasing the level of financial literacy in the educational system of Uzbekistan, especially in school education, and to the study of advanced foreign experiences. In the article, the financial literacy programs of Finland and the Russian Federation are analyzed and ways of their adaptation to the conditions of Uzbekistan are studied. Emphasizing that financial literacy has a positive effect on the economic stability and well-being of the population, the research notes the need for public and private sector cooperation, the organization of special courses and training in educational institutions, as well as the use of modern technologies and interactive methods. Proposals and recommendations developed on the basis of the experiences of Finland and the Russian Federation are of great importance in the formation of practical programs aimed at increasing financial literacy in the school education system of Uzbekistan.

This article examines the content of Islamic accounting. An attempt is made to reveal its essence more broadly by comparing Islamic accounting with traditional accounting. The rates proposed by various scholars on Islamic accounting are presented and analyzed. For a complete understanding of Islamic accounting, the main features of the Islamic financial system are also discussed. Existing reports in financial statements and additional reporting forms added to them in Islamic accounting are also considered. The reasons for the appearance of additional items in the balance sheet and financial statements, the balance sheet items covered by these items, and a description of the financial transactions related to profits and losses are provided. In conclusion, the differences between the objectives of Islamic accounting and traditional accounting are highlighted

International Financial Reporting Standards (IFRS) have become an integral part of the global economy today. Their main purpose is to ensure a unified approach to the preparation of financial statements, facilitate their comparability on an international level, and increase transparency for investors. International financial reporting standards have been adopted by many countries, which is of great importance for coordinating business processes, evaluating the effectiveness of company operations, and standardizing financial information. At the same time, adapting the accounting system to international standards is crucial not only for meeting legal requirements but also for enhancing competitiveness in business processes. This article discusses the integration of international financial reporting standards into the accounting system, their essence and benefits, as well as the implementation process and the experience of international countries.

In the article, the problems of improving the theory and methodology of forming the financial policy of the enterprise at the current stage of economic liberalization and modernization in the Republic of Uzbekistan are studied. The advantages and specific features of improving the theory and methodology of the formation of the financial policy of the enterprise in the prospects of the socio-economic development of the country are scientifically substantiated. Possibilities of improving the theory and methodology of the formation of the company's financial policy in the corporate financial management system of the Republic of Uzbekistan were studied and recommendations were developed.

International Financial Reporting Standards (IFRS) have become an integral part of the global economy today. Their main purpose is to ensure a unified approach to the preparation of financial statements, facilitate their comparability on an international level, and increase transparency for investors. International financial reporting standards have been adopted by many countries, which is of great importance for coordinating business processes, evaluating the effectiveness of company operations, and standardizing financial information. At the same time, adapting the accounting system to international standards is crucial not only for meeting legal requirements but also for enhancing competitiveness in business processes. This article discusses the integration of international financial reporting standards into the accounting system, their essence and benefits, as well as the implementation process and the experience of international countries

This article presents views on financial management and the results obtained through the application of modern information technologies in it. It also describes the importance of the application of information technologies to management processes in the financial system in increasing the efficiency of modern financial institutions, improving the quality of services and gaining customer trust, and describes the main types of their application in the financial system.

This article analyzes the impact of capital adequacy and financial stability on the competitiveness of commercial banks in the financial market. The study examines capital adequacy ratios within the banking system, risk management mechanisms, and the institutional foundations for ensuring the financial stability of banks. Based on international financial standards, particularly the Basel III framework, the relationship between bank capital and competitiveness is analyzed. The results of the study demonstrate that maintaining financial stability in banks is a crucial factor in strengthening the competitive environment within the financial market.

This article highlights in detail the theoretical and practical foundations of assessment based on the rating system in strengthening the sustainability of commercial banks. The article analyzes the international experience of banking supervision, methods of rating assessment, as well as approaches to assessment based on the Camels system. The evaluation criteria, scales and methodological approaches used in rating systems, in particular numerical and alphabetical rating expressions, are considered in detail. The advantages, limitations, and conditions of using complex and expert assessment methods are also substantiated, as well as essential aspects of the assessment model when choosing a criterion. The article highlights the need to collect high-quality information, apply mathematical and statistical models, and choose the right assessment parameters to improve the effectiveness of the rating system. The rating system is recognized as an important tool in improving the reliability and stability of banks through an objective assessment of their financial condition.

This paper examines the development of global Islamic finance, its role in the global financial system, as well as the main trends and prospects for its development in the coming years. Special attention is given to the analysis of the structure of Islamic financial assets in various countries such as the Gulf States, Southeast Asia, Turkey, and the UK. Data on the volumes of Islamic financial assets for 2021-2024 are presented with forecasts for 2025. The study also includes a comparative analysis of asset structure across categories such as banking products, sukuk, real estate, and project investments. The conclusion draws insights on the further growth and development of Islamic financial instruments and their impact on the stability of the global financial system.

This article analyzes the current state of the financial markets of Turkey and the UAE, countries with dualistic financial systems. In particular, the article conducts a comparative analysis of the Islamic and conventional financial systems of Turkey and the UAE (United Arab Emirates), examining the state of participation of Islamic finance in the general financial market, the comparative state of participation of Islamic capital market, Islamic insurance market and Islamic investment funds in the financial market.

Currently, the issues of improving the financial planning system, which is the main functional element of financial management, are widely studied all over the world. In particular, in the context of a global pandemic, targeted research is being conducted on the formation of a financial planning system capable of quickly adapting to changing conditions in foreign markets and its perfect model in combination with strategic plans. Also, one of the main functional elements of financial management is focused on improving the organizational architecture of financial diagnostics, which embodies a wide range of indicators for a comprehensive assessment of financial and economic activities of companies.

This article examines the improvement of financial control systems using digital technologies. It analyzes the impact of digitalization of financial control on the effectiveness of public financial management and its compliance with internationally recognized principles. It argues that digital technologies ensure the speed and continuity of control processes and enable the effective tracking of financial resources. It also demonstrates that digitalization of financial control has the potential to transform it from a traditional control mechanism into a preventive and analytical management mechanism

This article scientifically analyzes the issues of forming and improving the internal control system at enterprises in the context of the digital economy. The study highlights the role of the internal control system in corporate governance, its significance in risk management, and its impact on financial stability. As a result of the introduction of digital technologies, it is substantiated that the internal control system will transform from a traditional inspection mechanism into a proactive, real-time management tool. The need to automate the internal control system, integrate it with information systems, and apply a risk-oriented approach is also indicated. The research results are important for increasing the efficiency of management at enterprises, reducing financial errors, and ensuring the efficient use of resources

The article discusses the importance of implementing transformation processes in Uzbekistan’s commercial banks under globalization and competitive conditions, as well as their future prospects. The study highlights the necessary changes for the successful operation of commercial banks in modern economic conditions, their ways of increasing competitiveness, and integrating into the global financial system. The article explores the challenges faced by Uzbekistan's banking system in the transformation process and examines the social, economic, and technological factors influencing this process. Recommendations are proposed for introducing new technologies, developing digital banking services, and ensuring the financial stability of banks. Furthermore, the future prospects of Uzbekistan's commercial banks in the context of global competition are analyzed, with measures proposed for strengthening the financial stability of the country's banking system.

This article analyzes the issues of the organization of international financial reporting standards in the banking system of Uzbekistan in world practice, including the issue of the introduction of IFRS in the activities of commercial banks, specific aspects of its application in banks. In banking practice, the specifics of the introduction of IFRS in international banking practice and the specifics of its implementation are analyzed

This article analyzes financial literacy programs in Finland and examines ways to adapt them to the conditions of Uzbekistan. Emphasizing that financial literacy has a positive impact on economic stability and well-being of the population, the study notes the need for cooperation between the public and private sectors, the organization of special courses and training in educational institutions, as well as the use of modern technology. Suggestions and recommendations developed on the basis of the Finnish experience are of great importance in the formation of practical programs aimed at improving financial literacy in the school system of Uzbekistan.

The prospects of economic cooperation between the countries of Central Asia, including Uzbekistan and Kazakhstan, in the expansion of cooperation in the areas of Commodity Exchange, joint ventures, volume of cargo transportation, large-scale cooperative settlements, tourism, industry, energy and agriculture, points have been made to ensure the mutual integration of accounting and financial statements between the countries. Also, in the Coordination of accounting and financial statements in our country with international standards, practical work on ensuring the implementation of the tasks set out in the decision of PQ-4611 "on additional measures for the transition to international standards of financial reporting", scientific conclusions on interrelated and different aspects of the accounting system are formed between Uzbekistan and Kazakhstan.

The article analyzes the institutional, methodological, and organizational problems arising in the process of preparing consolidated financial statements (hereinafter – CFS) in accordance with the requirements of the International Financial Reporting Standards (hereinafter – IFRS). In the study, CFS is interpreted not merely as the practice of aggregating the financial statements of individual enterprises line by line, but as a broader system encompassing economic relations at the group level, mechanisms for exercising control over consolidated entities, the organization of information systems necessary for consolidation, and the establishment of an integrated group accounting policy. The article examines the main practical problems encountered in the consolidation process under the conditions of Uzbekistan, including formal approaches to the assessment of control, issues related to the application of a unified group accounting policy and the elimination of intra-group transactions, as well as insufficiently developed information databases and inadequate professional capacity of personnel. These problems are classified into five main groups (regulatory-institutional, organizational-managerial, methodological, technical, and human resource related), and based on their analysis, the author proposes a diagnostic model. Furthermore, practical recommendations have been developed regarding the determination of the consolidation perimeter, standardization of group accounting policies, modernization of information systems, and enhancement of human capital capacity. The results of the research contribute to improving the preparation of consolidated financial statements in Uzbekistan, increasing the transparency of corporate governance, and deepening the integration of reporting corporate groups into the international financial market

This article highlights the fact that commercial banks depend on several factors, such as the development of banking operations by improving monetary policy, constant adaptation to socio-economic conditions, the development of new strategies and tools for banking activities, effective management of banking risks, and the development of banking currency operations by reducing problematic processes. Also, today, the relevance of the development of commercial banks is indisputable, since the successful functioning of the entire financial system of the country depends on it, taking into account the existing problems in making financial decisions in banks and reducing problematic processes, as well as the author's approaches and suggestions for their elimination

The article explores the theoretical and practical aspects of the institutional characteristics of financial accountability and transparency. It examines the reforms implemented in Uzbekistan aimed at modernizing the public financial management system, enhancing budget process openness, and gradually adopting international financial reporting standards. Based on international experience (Finland, Canada, South Korea, Australia, Sweden), the study highlights the key factors that ensure effective financial accountability and transparency: real-time data disclosure, institutionally independent auditing, and the use of digital technologies. Uzbekistan’s PEFA scores and Open Budget Index results are analyzed, identifying existing challenges and suggesting policy directions for improvement. The findings demonstrate that strengthening national legislation, adopting internationally standardized reporting formats, expanding public participation, and introducing modern digital technologies are crucial for consolidating the institutional foundation of financial accountability and transparency

The topic of this paper focuses on the comparison of fixed asset accounting under International Financial Reporting Standards (IFRS) and National Accounting Standards (NAS). Fixed assets are the most important long-term assets that play a key role in the financial position of an organisation. The study examines the main differences in the approaches to recognition, measurement, depreciation and asset retirement accounting between the two systems. Particular attention is paid to the revaluation of fixed assets, depreciation methods, and approaches to accounting for repair and modernisation costs. The paper analyses how different standards affect financial reporting and management decision making, and what key aspects should be considered when moving from one accounting system to another. The study focuses on analysing the flexibility of IFRS and the limitations of NAS, which is important for accountants, financial professionals and managers working in different legal and economic environments.

This article analyzes the relationship between the retirement age and demographic and macroeconomic factors within the pension system of Uzbekistan. The purpose of the study is to justify the need for reforming the retirement age and to assess its impact on fiscal sustainability. The study employs statistical and comparative analysis methods, calculation of the demographic dependency ratio, and formulas describing the relationship between insurance service length and the pension payment period. The results indicate that population aging and increasing life expectancy intensify long-term fiscal pressure on the pension system. Imbalances among current parameters may negatively affect system stability. The calculations confirm that a gradual increase in the retirement age, expansion of the minimum employment period, and diversification of insurance contributions strengthen the financial sustainability of the system

The article examines internal and external factors that influence the efficiency of the enterprise value management system, and details the role and significance of these factors in the enterprise value management process. The important role of the efficiency of managing production, investment and innovation processes at the enterprise, managing the financial and material resources available at the enterprise, as well as human resources, in the enterprise value management system is substantiated.

This study presents an in-depth analysis of the current state of the Uzbek pension system and the impact of demographic changes and life expectancy on pension liabilities. The size of pension reserves, the present value of liabilities, and financial sustainability indicators were calculated using actuarial models