on the international activity of the Banking and Finance Academy of the Republic of Uzbekistan
In accordance with the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No 180 dated on May 17, 1996, the Banking and Finance Academy of the Republic of Uzbekistan is actively cooperating with foreign organizations in order to prepare highly qualified specialists for the banking and financial system of the country. Since 1996, the Academy has carried out the following activities with foreign partners:
1. Since 1996, the Academy has been working closely with the Policy Research Institute under the Ministry of Finance of Japan. Over the years, 203 students and 42 teachers of the Academy took part in internship programs in Japan. Also, the Academy was visited by more than 200 managers and experts from the Ministry of Finance, banks, universities and companies of Japan, who delivered lectures to students and teachers on relevant topics of the banking and financial sphere.
By the decision of the Academic Council of the Academy, for the significant contribution to the training of qualified specialists for the banking and financial system of the Republic of Uzbekistan, the title “Honorary Doctor of the Banking and finance academy of the Republic of Uzbekistan” was awarded to the former Minister of Finance of Japan Masajuro Shiokawa, former President of the Asian Development Bank Tadao Chino, Deputy Prime Minister, Minister of Finance of Japan Taro Aso.
In addition, Mr. Kensaku Munenaga, representative of the Policy Research Institute under the Ministry of Finance of Japan, is the first vice-rector of the Banking and Finance Academy of the Republic of Uzbekistan and makes contribution to the development of the Academy.
2. Since 2012, the Banking and Finance Academy of the Republic of Uzbekistan in cooperation with the British Embassy and the British Council in Tashkent initiated the organization of international certified seminars. Since then, seminars have been organized by professors from BAT University and the University of London-Metropolitan of the Great Britain on issues of international finance, banking and auditing, taxes and taxation, in which more than 200 students of the Academy successfully participated and were awarded with international certificates.
3. In 2007 the Banking and Finance Academy of the Republic of Uzbekistan established a close cooperation with Bremerhaven University of applied sciences of Germany. Since then, the Academy has been organizing summer training programs for students of the Academy on modern banking, international financial systems and investment management. To date, 212 students and 13 teachers of the Academy have participated in this programme.
4. In 2014, the Banking and Finance Academy of the Republic of Uzbekistan launched a cooperation with Deutsche Bank of Germany and the same year, the Academy organized training-course on " Corporate finance and Decision making on investment", provided by the experts of Deutsche Bank. In 2015, the Academy held a training-course on “Corporate finance and global markets” in the framework of Deutsche Bank's corporate and public partnership program. More than 80 students of the Academy participated in these events and they were awarded with international certificates. In future, it is planned to organize such training-courses annually in cooperation with Deutsche Bank and the Academy.
5. Since 2007, the Study Center Gerzensee the Swiss National Bank has been inviting students of Academy to attend seminars, organized for central bank staff. Currently, more than 15 students of the Academy are actively involved in seminars on monetary policy, inflation forecasting, financial stability, financial market tools and other issues.
6. One of the Academy's closest partners in Europe is the European Institute of applied sciences and management in Prague. Within the framework of cooperation with this educational institution, students of the Academy undergo internships in the Czech and European banking systems, public finance management, pension and tax systems, as well as in the field of insurance.
7. In 2003, after establishing cooperation with the Malaysian Technical Cooperation Program (MTCP), students and teachers of the Academy had the opportunity to improve their qualifications in Malaysia. In particular, within the framework of the MTCP program grant, 21 students and 1 teacher of the Academy took part in the curriculum on “Public finance management, pension, insurance and tax system of Malaysia”, which was held on November 7-21, 2014 in Kuala Lumpur. Within the framework of internship, theoretical and practical training was held on the latest changes and news in the field of taxation, finance, pension, insurance and budget policy in Malaysia. In the practical part of the program, students of the Academy visited the Tax department of Malaysia, the Pension Fund of Malaysia, the Department of public services, the Malaysian insurance institute and other organizations.
8. In recent years, one of the Academy's important achievements has been the signing of a Memorandum of mutual cooperation with the Keimyung University of the Republic of Korea in 2012. Within the framework of cooperation, 10 teachers of Keimyung University visited the Academy and held lectures for students of the Academy on the latest information and communication technologies used in banking and finance. In addition, in 2015, 2016, 40 students and teachers of the Academy participated in Qualification upgrading courses on the banking and financial system of the Republic of Korea.
9. The Banking and Finance Academy of the Republic of Uzbekistan cooperates closely with financial and educational organizations from other countries of the world. Since the establishment of the Academy, more than 200 students and teachers of the Academy have taken part in the programs of Yeoju Technological institute of the Republic of Korea, Shanghai University, courses in the framework of international technical and economic cooperation of India, in the programs and internships of the International cooperation agency of Turkey, Management development institute of Singapore, Saint Petersburg State University of Economics and Finance, the US Federal Reserve and the Bank of Egypt.
10. A Memorandum of understanding was signed between the Banking and Finance Academy of the Republic of Uzbekistan and the Higher school of banking in Poland.
11. On October 18, 2018, a Cooperation Agreement was signed between the Banking and Finance Academy of the Republic of Uzbekistan and Saint Petersburg State University of Economics of the Russian Federation.
12. The Banking and Finance Academy of the Republic of Uzbekistan has signed a Memorandum of Understanding with the Federal state budget institute “Scientific research financial institute” of the Russian Federation.
13. Memorandum of Cooperation on a voluntary basis was signed between the Vice President of JP Morgan Chase & Co Akmal Khamidov and the Banking and Finance Academy of the Republic of Uzbekistan.
On the development of international relations of the Academy, implementation of joint international academic programs
In accordance with the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan № 220 dated on April 15, 2017 "On improvement of activity of the Banking and Finance Academy of the Republic of Uzbekistan", the Academy:
- organizes internships in institutions of the banking, financial and tax systems, as well as in higher educational and research institutions of foreign countries for teachers and professors, researchers and other staff, as well as students;
- supports the participation of professors, teachers, researchers and other personnel, as well as students in international scientific and methodological conferences;
- conducts international activity in order to fulfill the participation of teachers and professors, staff and students in foreign internships, various international educational and research programs.
Accordingly, in the “Strategy of Actions for 2017–2021 for the development of the Banking and Finance Academy of the Republic of Uzbekistan,” approved by protocol No. 2 of October 4, 2017, of the Council of the Banking and Finance Academy of the Republic of Uzbekistan, the following tasks was defined to the Rectorate, the Department of international relations, the Department for qualification upgrading and internships, centers and departments:
- expansion of cooperation with foreign countries;
- further expansion and improvement of the effectiveness of academic exchange programs with traditional international partners;
- expansion of cooperation with international educational programs, international economic and financial institutions, embassies and representative offices of foreign countries, foreign universities and research centers, enhancement of activities due to technical assistance, obtaining educational and scientific grants;
- expanding the participation of leading foreign experts and prominent scientists in educational and research processes.
The following activities have been carried out within the framework of Academy's international activity for the 2018/2019 academic year:
- foreign internships were organized with traditional partners - the Policy Research Institute under the Ministry of Finance of Japan, the University of Bremerhaven in Germany, the Study Center Gerzensee of the Swiss National Bank, the Joint Vienna Institute of Austria, the European institute of applied sciences and management of Czech Republic, as well as, new areas of cooperation were organized - technical cooperation program of India, the forum “Rome Business Game 2019”, aimed at developing skills for making managerial decisions by affluent European organizations within the framework of the “Rome International Careers Festival 2019”, as part of an internship initiated in cooperation with the University of Latvia at Liepaja, was organized a practice of exchanging experience in foreign countries, which was participated by 97 students and 5 professors and teachers of the Academy (M. Yuldashev , D. Rahmonov, I. Niyazmetov, N. Jumaev, M. Razzakova);
- lectures and training seminars were organized by professors and experts from the Policy Research Institute, an independent expert from SES, the London Institute of Banking and Finance of Great Britain, Waseda University, as well as, the ambassador of the Federal Republic of Germany to the Republic of Uzbekistan.
The following activities have been carried out within the framework of Academy's international activity for the 2019/2020 academic year:
- in cooperation with the Scientific Center, invitation letters were prepared and sent to foreign embassies and representative offices to attract foreign experts and scientists to participate in the International scientific and practical conference organized on October 25, 2019;
- international programs for the exchange of experience for students are being prepared in cooperation with traditional partners - the Policy Research Institute of Japan, the University of Bremerhaven in Germany, the European institute of applied sciences and management of Czech Republic;
- new areas of cooperation - work is underway to sign a memorandum of mutual cooperation with the Frankfurt School of Finance and Management in Germany. At the initiative of “Finance” Department, in cooperation with the University of Liepaja of Latvia, a Summer Internship program was organized.
The enhancement of the above activities will ensure to enhance the role and place in the development of the international relations of the Academy.