FBOKF started a new project aimed at improving the deposit payout system

FBOKF, with the support of the Korea Deposit Insurance Corporation (KDIC), greenlit a project to enhance the deposit payout process with a focus on IT. As a part of the project, FBOKF welcomed delegations of Korea IT Consulting (KITC), which provides consultancy services, and KDIC, which is providing technical assistance to KITC and FBOKF.

As part of the project, KITC interviewed FBOKF, CBU, Agrobank, and Business Development Bank to analyze the current state of the deposit guarantee system and the banking sector in Uzbekistan.

Upon completion of interviews, FBOKF and CBU met with KITC and KDIC for the presentation of interim report to discuss the progress made so far. KITC, in collaboration with KDIC, presented the results of analyses and possible ways to integrate IT into the system of FBOKF to expedite the payout process. The project is expected to last until December 2024 when the final report with a detailed masterplan will be presented.