Sunday, 21, January, 2018

Finances

President Shavkat Mirziyoyev on Saturday signed Priority Measures for Liberalizing Foreign Exchange Policy Decree allowing from September 5 to legal entities in Uzbekistan to buy foreign currency in banks without restrictions for payments under current international operations (import of goods, works and services, repatriation of profits, repayment of loans, payment of travel expenses and other transfers of non-trade nature).

Ongoing robust economic expansion and strong government support will help the Uzbek banking system navigate challenges thrown up by the accelerating depreciation of the local currency, the soum, says Moody’s Investors Service.

Uzbekistan has made substantial investment in upgrading its water supply and sanitation services in recent years. From 1995 to 2014, total public borrowing for improvements to these services amounted to US$ 344.1 million, the largest of any country in Central Asia.

The Procedure for Provision by the Central Bank of Cash Aids to Banks for Purchasing Foreign Currency from Individuals Regulation came into force, the Central Bank said in a statement, hinting to exchange offices will soon start foreign currency exchange operations.

President of Uzbekistan on August 17 signed resolution creating Entrepreneurship Development Support National Fund within the Cabinet of Ministers.

On August 15, a two-day seminar on gender aspects of financing small business for representatives of 28 commercial banks kicked off in Tashkent. The seminar was organized by the Chamber of Commerce and Industry-UNDP ‘Business Forum of Uzbekistan (Phase III)' project jointly with the Women's Committee and the Central Bank. The seminar aims to empower women in Uzbekistan.

Starting from August 22, 2017, the Central Bank of Uzbekistan will issue a new 50,000 soum banknote, СBU said in a statement.

The Russian GazPromBank and VneshEconomBank launched a $ 1 billion ($ 500 million each) credit line to the National Bank of Uzbekistan (NBU), a source in the NBU said.

The total investments in fixed assets in Uzbekistan in January-June of 2017 amounted to 26.6 trillion soums (or $7.5 billion), which is by 8.3% more to the same period in 2016.

Uzbek Agrobank signed a memorandum of cooperation with the Vietnam Bank for Agriculture and Rural Development (AGRIBANK).