Amendments were announced to the Article 13 of the Banks and Banking Activities Law. The amendmenst provide for gradual increase of the minimum amount of bank charter capital to 500 billion soums (US$ 5 million).
According to the current version of the law, today the minimum amount of bank charter capital is 100 billion soums.
Today, the number of commercial banks in the country is 33, of which 13 have a charter capital of more than 500 billion soums, 9 have a charter capital of more than 200 billion soums, and 11 have a charter capital of less than 200 billion soums.
The amendments will reportedly encourage individuals and businesses to place savings (deposits) in banks, help meet their needs for commercial and other loans, and increase the volume of banking services.
