<b>Historical Stages of Formation and Development of Modern Banking System in Uzbekistan</b> This paper investigates major points of the HISTORICAL STAGES OF FORMATION AND DEVELOPMENT OF MODERN BANKING SYSTEM IN UZBEKISTAN. On this case, research has been pinpointed on different analyses of the modern banking system in the Republic of Uzbekistan. In conclusion, research has focused on outcomes and shortcomings as the whole. Formation, development, modern banking, Uzbekistan, research 17-21 International Research Development and Scientific Excellence in Academic Life Special Issue Begmatov Oybek Rustamovich