Monday, 16, December, 2019

The President Mirziyoyev by his Nov. 30 decree transformed the National Bank for Foreign Economic Affairs (NBU) from unitary enterprise into a joint-stock company.

The JSC NBU will be the successor of rights, obligations and agreements, including international treaties. The bank’s founder are the Ministry of Finance and the Fund for Reconstruction and Development.

The document defines the main objectives of the NBU, including the provision of investment banking services to corporate clients, including the issuance and placement of securities in the domestic and foreign markets.

A joint-stock company with the same name will be created on the basis of the investment company NBU INVEST GROUP, which will be more active in the financial markets and project financing.

Some of NBUs’ non-core assets will be handed over to the State Assets Management Agency, while others will be sold.

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