ANALYSIS OF THE STATE OF THE BANKING SYSTEM IN TURKESTAN IN THE TWENTIES OF THE 20TH CENTURY

Abstract

This paper analyzes the structure, functionality, and socio-economic impact of the banking system in Turkestan during the 1920s, a period of radical transformation following the collapse of the Russian Empire and the consolidation of Soviet power. Drawing upon historical records and archival data, the study explores the role of state-controlled banks, the elimination of private banking institutions, and the implementation of Soviet financial policies in shaping a centrally planned economy. The paper highlights how political ideology profoundly influenced financial access, credit policies, and the development of banking infrastructure in early Soviet Turkestan.