Thursday, 20, June, 2019

Finances

The Big Four audit firms have joined the drafting of Uzbekistan’s new tax code, the Ministry of Finance said. The Ministry initiated a videoconference with the experts on global tax policy and administration at Deloitte in overseas offices.

President Shavkat Mirziyoyev chaired a government meeting Wednesday to discuss the state of socio-economic development in the 9 months of 2018 and the expected results for the year-end.

Uzbekistan delegation led by Deputy PM/Chairman of Investment Committee Sukhrob Holmuradov will on October 12-14 attend the next Annual Meeting of the Board of Governors of the World Bank and the International Monetary Fund in Indonesia.

Uzbekistan-France business forum was held in the French capital ahead of Shavkat Mirziyoyev’s visit to France on Friday. As part of the forum, the National Bank of Uzbekistan signed loan deals with French banks, one with Crédit Agricole worth € 300 million, another one with NATIXIS worth € 500 million euros.

The EBRD Board of Directors has approved a new strategy for Uzbekistan for 2018-2023. The strategy reflects recent changes in the country’s political and macroeconomic environment and is aimed at the creation of an open, integrated and export-driven economy.

This week, the Turin Polytechnic University in Tashkent hosted a workshop on the issues of transparency and openness in the public procurement sector in Uzbekistan. The event was organized by the World Bank in partnership with the National Agency for Project Management (NAPM) and the State Investment Committee (SIC) of Uzbekistan.

The Saudi Arabia-based Islamic Corporation for the Development of the Private Sector (ICD) has signed sharia-compliant financing agreements with six banks in Uzbekistan, boosting the former Soviet state’s efforts to develop Islamic finance.

Today, the National press center hosted a press conference with the officials of the Central Bank and QishloqQurilishBank. 

Uzbek banking sector growth will be supported in the medium term by state-led investments in the economy, Fitch Ratings says in a new report. The sector’s financial metrics will largely depend on state-controlled banks due to their notable market shares and policy roles.

The Central Bank of Uzbekistan decided to raise the interest rate by 2 percentage points - up to 16% per annum as of September 25, the regulator said in a statement.