President abolishes practice of selling bankrupt enterprises to banks

Tashkent, Uzbekistan (UzDaily.com) -- Uzbek President Shavkat Mirziyoyev abolished a practice of selling enterprises declared bankrupt or having outstanding loans to the commercial banks.

President of Uzbekistan signed a decree “On measures to radically improve the activities of the Central Bank of the Republic of Uzbekistan”.

The decree noted that the practice of selling enterprises declared bankrupt or having outstanding loans to commercial banks will be abolished in Uzbekistan.

President also banned banks to hold stakes in the statutory fund of management companies, investment companies and funds, as well as non-core banking activities of economic entities.

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