CENTRAL BANK DIGITAL CURRENCIES: PROSPECTS AND CHALLENGES IN UZBEKISTAN

Abstract

This article explores the prospects and challenges of introducing a Central Bank Digital Currency (MBRV) in Uzbekistan, drawing on global experiences and best practices. As digital payments expand, MBRVs present opportunities to modernize payment systems, improve financial inclusion, and strengthen monetary policy. Based on analysis of World Bank, BIS, and EDPS reports, the study examines design models and evaluates Uzbekistan’s legal, institutional, and digital readiness. While benefits include faster transactions and broader access to secure money, risks such as banking disintermediation and weak regulation require careful policy responses. The article argues that a successful MBRV rollout will depend on public trust, legal reform, and strategic alignment with national development goals.