Tashkent, Uzbekistan (UzDaily.com) -- Bank of Georgia JSC successfully concluded the first transaction for the purchase of government securities (GS) as a dealer on the platform of the Uzbek Republican Currency Exchange (UZCE), which became an important step in attracting international investors to the market capital of Uzbekistan and its further development.

The transaction became possible thanks to the Decree of the President of the Republic of Uzbekistan No. PP-291 from 2 September 2023 “On additional measures for the development of the capital market”, in accordance with which a special legal regime “Regulatory Sandbox” was created.

Only organizations accepted as its members can take part in the UZCE auctions. Previously, Bank of Georgia JSC was accepted as a member of the exchange under category “B”, which provides the opportunity to participate in exchange trading and carry out transactions on the government securities market.

In order to ensure the participation of Bank of Georgia in the government securities market as an investor, the bank opened an account in the settlement and clearing system of the UZCE. Also, the opportunity was created for foreign nominal holders to open “depo” accounts (omnibus accounts) and direct individual accounts in the UZCE depository system.

The presence of new international players in the country’s capital market contributes to further improvement of the quality of financial services and the introduction of new risk management methods in the financial sector.

UZCE will continue to strive to create favorable conditions for international investors and introduce innovative solutions that contribute to the development and strengthening of the financial market of Uzbekistan.