Sunday, 24, September, 2023


The Board of the Central Bank decided to cut the interest rate from 15% to 14% per annum, the press service of the CB said today.

Globally, women earn about 80% of what men earn on average. But the gap is larger in Central Asia: working women earn about 60% of what men earn in Tajikistan, 61% in Uzbekistan, 75% in the Kyrgyz Republic, and 78% in Kazakhstan.

President signed a decree instructing to complete integration of ATMs for Humo and Uzcard payment systems by May 2023, and for POS - by the end of 2023, the president’s spokesman Sherzod Asadov said.

The Tashkent Interdistrict Economic Court ruled on February 15 to declare the Turkiston Bank bankrupt, the Central Bank said on Monday.

The Central Bank of Uzbekistan proposed to amend the statute on capital adequacy requirements for commercial banks. The Bank’s draft has been posted for public input until March 7.

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Equity stakes of Orient Finans Bank, a privately-owned bank have changed. Deals with 52.5% of the bank's shares worth of 580.5 billion soums took place on the stock exchange.

The Asian Development Bank (ADB) has approved a $150 million policy-based loan and a $400,000 grant to improve economic management in Uzbekistan.

The European Bank for Reconstruction and Development (EBRD) has launched the EBRD AgVenture competition, welcoming submissions from all of the economies where the EBRD invests, in an effort to support innovative early-stage agribusiness ventures.

Japanese banks will provide financial support to Uzbektelecom, the Japanese newspaper Nikkei Shimbun reported. Reportedly, Japan Bank for International Cooperation (JBIC) and Mitsubishi UFJ Bank will provide 19.3 billion yen (150 million US dollars) in financial support to Uzbektelecom. The funds will be contributed to purchase Japanese equipment for the development of IT infrastructure in Uzbekistan.

Memorandum of Understanding was signed at the Ministry of Investments, Industry and Trade of Uzbekistan between the European Bank for Reconstruction and Development and Uzbekistan on the holding of the 32nd annual meeting of the Board of Directors of EBRD on May 16-18 this year in the city of Samarkand.

At today’s BOD meeting, the Central Bank decided to keep the interest rate at 15% per annum, the press service of the Bank said.

Moody's Investors Service ("Moody's") has today upgraded the Government of Uzbekistan's long-term issuer and senior unsecured ratings to Ba3 from B1 as well as the senior unsecured MTN program ratings to (P)Ba3 from (P)B1, and changed the outlook to stable from positive.

In the first nine months of 2022, Uzbekistan’s public debt reached $26.2 billion. In Q3, it rose by about $300 million, but overall year-to-date it has decreased by $100 million, the Ministry of Finance said in a report.

A new digital bank, Smart Bank, has been registered in Tashkent, the Central Bank said on Wednesday. The Bank was issued a license for the right to carry out banking activities by a resolution of the Board of the Central Bank.

The Finance Minister Timur Ishmetov addressed the meeting of the Legislative Chamber and spoke about an important change in the tax policy for 2023.

The Asian Development Bank (ADB) has signed a financing package of up to $8.39 million with Nephrocare Health Services Central Asia (NephroPlus) to set up four dialysis centers through a public-private partnership (PPP), the ADB press office said.

The World Bank approved the “Advancing Uzbekistan's Economic and Social Transformation Development Policy Operation,” which supports the continued implementation of economic and social reforms in Uzbekistan. These reforms will help support an inclusive transition to a private-sector-led economy by strengthening market institutions and ensuring all citizens take part in the benefits of economic growth. 

The Asian Development Bank (ADB) has lowered its economic growth forecasts for developing Asia and the Pacific amid a worsened global outlook.

The Minister of Finance issued the Recognition of international financial reporting standards and texts of explanations to it for the purpose of their application on the territory of the Republic of Uzbekistan Order.