1991年乌兹别克斯坦共和国通过《银行和银行活动法》(英語:law of “About the banks and banking activity”),乌兹别克斯坦共和国中央银行成立。紧接着在1993年,中央银行系统的改革开始进行,以促进银行结构的实质形成。不久后在1994年7月1日,法定货币乌兹别克索姆开始发行,它成为乌兹别克斯坦经济发展的一个重要里程碑。事实上它意味着央行成为活动完全独立的机构。
乌兹别克斯坦共和国于1996年发布了新《银行和银行活动法》,明确了二层银行体系(央行-商业银行)的法律框架。1997年,一个现代化的跨银行电子支付系统软件开发完成,实现在国内所有账户自动转账支付于3-15分钟内完成。到了1999年,乌央行开展国际货币政策的进一步开放,制定并推出了外汇买卖场外柜台及外汇市场的监管机制。跟着在2001年7月1日,央行出台了法规,让出口企业可以直接将外汇收汇到国内的储蓄银行账户内,以鼓励中小企业的发展。接着在2002年,央行出台了“关于公民在银行的资金安全保障”的法规,建立了公民在银行资金安全的担保基金,成立有效机制以保障人民群众在银行的存款。然后又在2006年10月,出台了“关于消费信贷”的法规以应对按揭贷款兴起,增加银行消费信贷的金额以及通过法律给金融消费者以安全保障。
2010年,乌商业银行开始成为一个具体的信贷机构,一方面吸引了行业的临时备用资金,另一方面又满足央行自己的财务要求[4]。
2014年3月29日,乌政府出台法令,规定乌本土法人在国外银行开设外币和本币账户时需获得乌央行下发的许可,以遏制国内资本外流[5]。
LEGAL STATUS AND FUNCTIONS OF THE CENTRAL BANK. Central Bank of the Republic of Uzbekistan. December 19, 2012 [2014-07-06]. (原始内容存档于2014-06-27) (英语). In accordance with Article 1 of the Law of the Republic of Uzbekistan "About the Central Bank of the Republic of Uzbekistan" the Central bank is a legal entity and is the exclusive property of the state.Central Bank is economically independent institution exercising its costs from its own revenues. the central banks, responsible for internal and external stability of the national currency, are accountable to their parliaments, but do not obey them in their activities.
LEGAL STATUS AND FUNCTIONS OF THE CENTRAL BANK. Central Bank of the Republic of Uzbekistan. December 19, 2012 [2014-07-06]. (原始内容存档于2014-06-27) (英语). The main purpose and objectives of the Central Bank of the Republic of Uzbekistan.Under the Law of the Republic of Uzbekistan "About the Central Bank of the Republic of Uzbekistan," the main purpose of the Central Bank is to ensure the stability of the national currency.
Article 4 of the Law "About the Central Bank of the Republic of Uzbekistan" defines the prohibited kinds of the activity of the Central Bank.. Central Bank of the Republic of Uzbekistan. December 19, 2012 [2014-07-06]. (原始内容存档于2014-06-27) (英语). According to this Article, the Central Bank is not entitled to engage in the provision of financial assistance;carry out commercial activities;participate in the capital of banks and other legal entities, except the participation in the capital of Halq Bank of the Republic of Uzbekistan, joint-stock commercial bank "Microcreditbank", as well as businesses and organizations that support the activities of the Central Bank.