IMPROVING POPULATION INVESTMENT ACTIVITY THROUGH THE DEVELOPMENT OF BANK BROKERAGE SERVICES AND FINANCIAL LITERACY IN FORMING A SECURITIES PORTFOLIO IN THE KHOREZM REGION
DOI:
https://doi.org/10.5281/zenodo.18935745Keywords:
investment activity; financial literacy; brokerage services; securities portfolio; remote banking services; Khorezm region; financial inclusion.Abstract
This article examines the relationship between the level of financial literacy of the population, the development of
banking brokerage services, and the investment activity of residents of the Khorezm region of the Republic of Uzbekistan
during 2019–2024. Based on the author’s database (11 banks, panel data for 40 quarters, and a survey of 1,240
households), methods of multiple regression, correlation analysis, and radar mapping of districts’ investment readiness
were applied. The results show that the financial literacy index is a key predictor of investment portfolio profitability (β
= 0.412, p < 0.001), while the transition of operations to remote banking service (RBS) platforms significantly expands
investment activity (β = 0.284, p < 0.001). The number of brokerage accounts of individuals increased from 1,240 units
in 2019 to 14,870 units in 2024; however, the population coverage remains only 1.54%, indicating significant untapped
potential. A three-scenario model for the development of brokerage services until 2030 and a set of measures aimed at
improving the financial literacy of the regional population are proposed
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