Sunday, 16, December, 2018

Finances

Jingdong Hua, IFC’s Vice President and Treasurer, ended a two-day visit to Uzbekistan, where he met with private sector clients and discussed with Uzbek authorities, the Central Bank of Uzbekistan, and development partners how to scale up IFC’s engagements in the country. The meetings are part of an effort by IFC to support of the country’s economic transformation and stimulate foreign investments.

The volume of Uzbekistan's net gold and foreign exchange reserves reached US$ 27.086 billion as of April 1, a US$ 151 million increase over the month, the Uzbek Central Bank said in a statement.

Freedom Holding Corp. said it will open its first branch office in Tashkent, Uzbekistan. The office will be located in the city's International Business Center and will initially employ 12 investment consultants.

The governments of Uzbekistan and Germany signed an agreement on financial cooperation worht of 12.3 million euros for the period 2017 - 2018 on the basis of the minutes of the intergovernmental negotiations that took place on 19 July 2017 in Berlin.

A delegation from the EBRD’s Board of Directors will visit Uzbekistan from 19 to 23 March 2018. The visit, which is part of preparations for the Bank’s medium-term strategy for the country, will help the Directors to assess reforms taking place in Central Asia’s most populated country.

The International Islamic Trade and Finance Corporation (ITFC) will provide US$ 100 million to Uzbekistan in short-term loans for a period of two years, after a framework agreement was signed on Tuesday between the IITFC and the Committee for Investments, the committee said.

Uzbekistan has embarked—with great determination—on reforms to address the country’s most pressing challenges, foremost the lack of jobs.

Japan provided grants worth over US$687,000 for implementation of 12 grass-root social projects in Uzbekistan. Ambassador Extraordinary and Plenipotentiary of Japan to Uzbekistan Nobuaki Ito signed grant contracts, which provide for implementation of 12 grass-root social projects in Tashkent and regions of Uzbekistan.

The Central Bank has created a service which will "protect the rights of consumers of banking services" instead of the Department handling compalints from individuals and legal entities, the Central Bank said in a statement.

Delegation of the Uzbek Finance Ministry visited Russia from 19 to 21 February. The visit was organized within the framework of implementation of the Memorandum of Technical Cooperation and Cooperation Plan for 2018 concluded between the Ministry of Finance of Uzbekistan and the Federal Treasury of the Russian Federation.


The Uzbek delegation held a meeting with officials of the Federal Treasury of Russia.

The sides discussed the issues related to organization and implementation of internal control, audit and state financial control in the Treasury of Russia.

The Russian side held a presentation on specifics of the organization of internal control and audit in the Federal Treasury. Particular attention was paid to methodology and implementation of a risk-based approach to audit and control activities.