Finance

Capital Bank places securities for 3bn soums

Capital Bank, Uzbek private commercial bank, said it fully placed the seventh emission of shares for 3 billion soums.

Growth of competition in insurance market has positive effect

The first nine months of 2007 are characterized by the activation of insurance market, stipulated by the entrance of new players and increase of growth rates of the sector, according to specialists of SAIPRO company’s financial analysis and rating department.

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IFC, World Bank, and Wharton School Partner to help develop the mortgage finance industry in Central Asia and Azerbaijan

IFC, the World Bank, and the International Housing Finance Program of the University of Pennsylvania’s Wharton School recently conducted a four-day workshop to enable more than 50 executives of state agencies and commercial banks in Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan to review global innovations of housing finance systems, IFC said in its press release on 26 November.

Paying taxes is getting easier in Uzbekistan but more reform is needed

According to a new report Paying Taxes 2008 launched today by the World Bank, IFC, and PricewaterhouseCoopers Uzbekistan is among reformers which made it easier to pay taxes in 2006/2007; however, the country still ranks 159 in the world in terms of ease of paying taxes.

Tajikistan’s debt to Uzbekistan restructured

Tajikistan and Uzbekistan have agreed to restructure Tajikistan’s debt to Uzbekistan, a source at the Tajik Finance Ministry has told Tajik website Avesta on 23 November.

Employers’ liability insurance to be made compulsory in Uzbekistan

In line with the Resolution of the President of the Republic of Uzbekistan of 10 April 2007 "On measures to further reform and develop the market for insurance services", the State Insurance Inspectorate under the Ministry of Finance has prepared the draft of the Law of the Republic of Uzbekistan "On compulsory insurance of employer’s civil liability."

Asaka Bank’s assets increases by 52.7%

The assets of Asaka Bank, the second largest Uzbek commercial bank, made up 1.2 trillion soums as of 1 October 2007 or increased by 52.7% year-on-year.

Uzbekinvest, NEXI sign MoU

Uzbekinvest and Nippon Export & Investment Insurance Agency (NEXI) signed a memorandum of understanding during the Uzbek-Japanese Business Forum in Tashkent.

ADB hosts first in series of meetings on safeguards policy update

The Asian Development Bank (ADB) today held the first in a series of consultative meetings as part of ADB’s efforts to update its safeguard policies.

UzbekInvest Hayot’s authorized capital raised to 1.5bn soums

The only active insurance company in Uzbekistan specialized in life insurance, UzbekInvest Hayot has announced the increase of its authorized capital to the level of 1.5 billion soums.

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