Uzbekistan has set a goal to prepare 5,000 specialists in financial technology by 2030. However, participants at the Silk Road Finance and Technology Forum in Tashkent noted that retaining trained personnel in the country is a serious problem.
The discussion took place on August 25 as part of a session titled 'School on the Silk Road: Demographic Dividend or Demographic Debt?'. Peter Franken, a professor at Keio University and founder of the Safecast project, moderated the session.
When asked what was most important—training, funding, or talent retention—Patrick Nyoroge, former manager of the Central Bank of Kenya, named training as the main constraint, believing that the other two issues could be solved in different ways.
Laiming Chen, Senior Vice President and Director of Sustainable Development at Ant International, and Abdel Aziz Nassir, Executive Director of the Egyptian Banking Institute, held a different view, considering talent retention a key factor. They emphasized that fintech specialists are in high global demand and may leave the country in search of better career prospects.
Gulnoza Ismailova, Executive Director of the 'El-Yurt Umidi' Foundation for Training Promising Personnel under the President of Uzbekistan, reported that the foundation was reorganized in 2026 and now reports directly to the president.
According to Ismailova, the foundation annually assesses the needs of state institutions and regions for personnel. It supports bachelor's, master's, and doctoral programs at universities ranked in the top 300 globally, invites foreign lecturers, and organizes dual degree programs.
She also specified that previously, graduates of scholarship programs were required to return to work only in the public sector. Now, this requirement extends to companies that are major taxpayers and residents of the IT Park, thereby expanding employment opportunities for those studying abroad.
Ismailova added that the main difficulty lies in determining exactly which specialists should be included in the target group of 5,000 people, including engineers, cybersecurity specialists, data specialists, regulators, and policy developers.
Drawing on Kenya's experience in implementing mobile money about 20 years ago, Nyoroge stated that practical on-the-job training is critically important alongside traditional university education. He noted that many graduates have degrees but are not ready for real tasks without additional practical experience.
Nyoroge also suggested that the departure of specialists abroad should not be viewed solely as a loss. Professionals who leave can acquire new skills and subsequently return to train others or take on higher positions, or become part of the diaspora creating companies in their home country or acting as a link to foreign markets.
Chen mentioned that Ant International runs the '10 by 1000' program, under which the company committed to training at least 1,000 digital leaders annually for ten years. Since 2018, approximately 10,000 people have been trained through this program in 110 countries and regions.
She added that company representatives met with the First Deputy Chairman of the Central Bank of Uzbekistan during the forum to discuss launching this program in Uzbekistan.
Nassir presented a three-tiered approach used by the Egyptian Banking Institute. For future senior executives, the institute uses psychometric testing, followed by one year of study and internship abroad. For a broader audience, a free online financial literacy platform is provided, accessible with a national ID. Current bank employees undergo competency-based training, with required competencies reviewed every three years based on surveys of bank HR directors regarding necessary skills in the coming years.
He advised countries establishing such institutions to include not only training but also mentorship, evaluation, and employment support, as well as establishing governance and stakeholder relations from the very beginning of operations.
To conclude the session, Franken announced the launch of his own mentorship initiative and invited hall participants to mentor young talent from Uzbekistan for one year, with a report to be presented at next year's forum.
