According to data from the Central Bank of Uzbekistan's pilot financial accessibility index, only 4 percent of adults in Uzbekistan use savings or term deposits, despite the widespread availability of basic banking services.
The regulator noted that although 86 percent of the adult population has basic bank accounts, there is a significant gap between general account ownership and the actual use of funds for savings. This gap is identified as a key priority for the structural development of the domestic financial sector.
Significant regional differences were identified: in rural areas, the share of residents using savings or term deposits is only 1 percent, which is four times lower than the national average. Furthermore, women show a higher uptake of savings products—6 percent, compared to the national average of 4 percent.
Among those who have opened such accounts, the usage rate remains high: about 66 percent of existing deposit accounts are active, meaning more than three transactions have been made in the last 12 months. The Central Bank emphasized that the high activity among current account holders indicates that the main obstacle is not an unwillingness to save, but rather limited access and awareness of suitable financial instruments.
The overall accessibility of savings products was rated at 56 out of 100, which is the lowest result among the three assessed categories of financial products. These figures lag behind payment services (69 points) and credit products (64 points). To address this deficit, the Central Bank intends to focus on developing simple and flexible tools for accumulating small amounts.
