Ministry of Finance to receive shares of Central Bank in People’s Bank and Microcreditbank

Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Finance of Uzbekistan will receive the shares of the Central Bank of Uzbekistan in the authorized capitals of the joint stock commercial bank of the People’s Bank of the Republic of Uzbekistan and the joint-stock commercial bank “Microcreditbank” for operational management for free of charge.

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

Uzbek leader approved the proposal to transfer the shares of the Central Bank in the authorized capitals of the People’s Bank of the Republic of Uzbekistan and Microcreditbank for operational management for free of charge to the Ministry of Finance of the Republic of Uzbekistan.

The President also established an order, according to which it is forbidden to include employees of the Central Bank in the composition of supervisory boards of commercial banks, economic management bodies and other economic entities.

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