Vol. 1 No. 1 (2026), Articles
Vol. 1 No. 1 (2026)

CONFLICT-OF-LAWS REGULATION OF CONTRACTUAL RELATIONS INVOLVING FOREIGN INVESTMENTS IN THE BANKING SYSTEM OF UZBEKISTAN: PROBLEMS AND PROSPECTS

Articles
Published 2026-04-29
Kamola Usmonova
Tashkent State University of Law, Master’s student of the International Commercial Law faculty
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Keywords

banking contract, conflict of laws, foreign investment, party autonomy, mandatory rules, bilateral investment treaty (BIT), ICSID arbitration, international banking law, Uzbekistan, private international law.

How to Cite

Usmonova , K. (2026). CONFLICT-OF-LAWS REGULATION OF CONTRACTUAL RELATIONS INVOLVING FOREIGN INVESTMENTS IN THE BANKING SYSTEM OF UZBEKISTAN: PROBLEMS AND PROSPECTS. Zamonaviy Ilmiy Yondashuvlar Va Texnologik Taraqqiyotning Ustuvor yo‘nalishlari, 1(1), 162-172. https://doi.org/10.5281/zenodo.19894838
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Abstract

This thesis analyzes the current problems of regulating contractual relations involving foreign investments in the banking system of Uzbekistan from the perspective of private international law. It examines the state of national legislation within the context of the principle of party autonomy, the institute of mandatory rules, and the system of Bilateral Investment Treaties (BITs) for the protection of investments. Based on a comparative study of the experiences of the European Union, the USA, and Asian countries, comprehensive reform recommendations are developed for Uzbekistan in accordance with international standards.

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References

I. Normativ-huquqiy hujjatlar

1. O‘zbekiston Respublikasi Fuqarolik kodeksi. 29.08.1996 yil. 1158–1164-moddalar // Qonun hujjatlari ma‘lumotlari milliy bazasi.

2. O‘zbekiston Respublikasining Qonuni. Banklar va bank faoliyati to‘g‘risida (yangi tahriri). 05.11.2019 yildagi O‘RQ-580-son // Qonun hujjatlari ma‘lumotlari milliy bazasi.

3. O‘zbekiston Respublikasining Qonuni. Investitsiyalar va investitsiya faoliyati to‘g‘risida. 25.12.2019-yildagi O‘RQ-598-son (o‘zgartirishlar bilan) // Qonun hujjatlari ma‘lumotlari milliy bazasi.

4. O‘zbekiston Respublikasining Qonuni. Xalqaro tijorat arbitraji to‘g‘risida. 16.02.2021 yildagi O‘RQ-674-son // Qonun hujjatlari ma‘lumotlari milliy bazasi.

5. O‘zbekiston Respublikasi Prezidentining Farmoni. Yangi O‘zbekiston strategiyasi to‘g‘risida. 28.01.2022 yildagi PF-60-son.

II. Xalqaro shartnomalar va model qonunlar

1. Basel Committee on Banking Supervision. Core Principles for Effective Banking Supervision. - Basel: BIS, 2012.

2. Energy Charter Treaty. Part III: Investment Promotion and Protection. - Lisbon, 1994.

3. Hague Principles on Choice of Law in International Commercial Contracts. - The Hague: HCCH Publications, 2015.

4. ICSID Convention (Convention on the Settlement of Investment Disputes between States and Nationals of Other States). - Washington D.C.: World Bank, 1965.

5. New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958.

6. OECD. Guidelines on Corporate Governance of State-Owned Enterprises. - Paris: OECD Publishing, 2015.

7. Regulation (EC) No 593/2008 on the law applicable to contractual obligations (Rome I) // Official Journal of the European Union. L 177/6. - 2008.

8. Regulation (EU) No 1215/2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (Brussels Ia). - 2012.

9. ShHT doirasida investitsiyalarni himoya qilish bo‘yicha hamkorlik to‘g‘risidagi kelishuv. Samarqand sammiti yakuniy hujjatlari. - T.: O‘zbekiston, 2022.

10. UNCITRAL Model Law on International Commercial Arbitration (1985, amended 2006). - New York: United Nations, 2008.

11. WTO. Accession of Uzbekistan. Working Party Report. WT/ACC/UZB/11. - Geneva: WTO, 2025.

III. Boshqa manbalar

1. O‘zbekiston Respublikasi Markaziy banki. Yillik hisobot 2023. - Toshkent, 2024.

2. UNCTAD. World Investment Report 2023. - Geneva: United Nations, 2023. - 244 p.