207 -4 (32/4) 2020 — Chorieva M. A. — DEVELOPMENT OF BANKING IN THE BUKHARA EMIRATE (19-20 CENTURIES)
DEVELOPMENT OF BANKING IN THE BUKHARA EMIRATE (19-20 CENTURIES)
Chorieva M. A. -Bukhara State Medical Institute.
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This article discusses the basics of the activities and functions of Russian commercial banks of the Bukhara branch in the Bukhara emirate. In Soviet historiography, banks were understood as an instrument of Western and Russian “colonialism.” The author, based on archival data, proves that the financial institutions of the Russian Empire Unlike Soviet and post-Soviet researchers, the author believes that banks did not become “monopolists” in the economy of Central Asia. The largest bank in the region, which had an extensive network of branches throughout Central Asia (12 branches) was considered the Russian-Asian Commercial Bank (until 1910, the Russian-Chinese Bank). It should be noted that the Russo-Asian Bank sought to take over cotton growing and industrial production. But in the end, he failed to become a locomotive of the region’s economic development. According to the author, the main reason is adaptation to really existing economic relations in the Turkestan governor-general and khanates. In the understanding of banks, the “modernization” of the Central Asian economy consisted in financing export crops and mediating between the metropolis and the periphery. The “colonial” periphery at first glance seemed an attractive area for investing and earning super-profits, but the speculative nature of the Turkestan economy prevented the normal development of banks. As a result, the economic “modernization” of Central Asia slowed down and opened the way for the Soviet experiment.
Key words: banks, commerce, branch, monopoly, financing, modernization of the economy, “colonial” periphery
First page
733
Last page
735
For citation: Chorieva Madina Alievna, Development of banking in the Bukhara emirate (19-20 centuries)//New Day in Medicine 4(32)2020 733-735 https://cutt.ly/7z6JuVd
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