Publication Details
Abstract
This study examines the relationship between fintech development and financial inclusion across the fourteen administrative regions of Uzbekistan. National indicators indicate fast progress, with the account ownership rate among adults increasing almost double to 60% by the 2025 Global Findex survey, and the number of licensed fintech companies from 24 in 2018 to 103 in 2025. These national aggregates mask differences between urban areas (Tashkent) and rural areas (Karakalpakstan and Surxondaryo). A mixed method is used to create an analytical framework that integrates a Regional Financial Inclusion Index (RFII) (the access, usage, and quality components) with a Regional Fintech Development Index (RFDI) (the penetration of payment-infrastructure and instant-payment-system). Based on national and comparative evidence, the discussion suggests that, so far, the advancement of fintech has helped to increase access to accounts, but not necessarily their depth in terms of formal saving and borrowing, with the potential for the latter gap to be greatest outside Tashkent. The following recommendations are made: expansion and targeted improvement of agent banking, financial literacy programs in the respective regions, and specific targets for the 2026-2030 National Strategy on financial technology development.