Finance

A delegation of representatives of state, commercial and private banks of the Republic of Uzbekistan has visited Italy, Jahon reported.

The agency of insurance protection of private enterprise and small business, Madad has increased its equity capital to 7 billion soums through addition stock floats.

Ipoteka Bank’s total capital made up 53.5 billion soums as of 1 October 2007. The growth over the first nine months of this year made up 16.3 billion soums.

The volume of the People’ Bank’s credit portfolio increased by nearly 90 billion soums as of 1 October 2007, the bank’s press service said. Of them, about 63.9 billion soums was invested in the financing of investment projects, 16.9 billion soums - extended to small business and private enterprise entities, 3.8 billion soums - extended in the form of micro-loans, and 4.1 billion soums - given out in loans to support women-entrepreneurs.

On 17 October 2007, a meeting of the Expert Council on Fiscal Policy Improvement of the Uzbekistan Business Forum took place in the conference hall of the Grand Orzu Hotel. During the meeting the various issues related to introduction of risk analysis system into the tax control practices in Uzbekistan were discussed.

Round table on outcomes and prospects of accounting reforms in Uzbekistan took place in the conference hall of the Radisson-SAS Hotel on 18 October 2007. Round-table was organized within the framework of joint project of UNDP and the Ministry of Finance of the Republic of Uzbekistan “Public Finance Reform in Uzbekistan” and in co-operation with USAID Accounting/Certified International Professional Accountant Project.

Central Bank of Uzbekistan issues a licence to new credit union, located in Tashkent, a press release of the bank said.

As a part of the preparation for the second reading of the draft law "On mandatory insurance of civil liability of vehicle owners", the task group held a meeting in the Legislative Chamber of Oliy Majlis (parliament).

The volume of the insurance obligations of Uzbek insurance companies totaled more than 25.3 trillion soums as of 1 October 2007. This exceeds the results of the corresponding period of the previous year by 23.5%.

The total investments of the insurance companies of Uzbekistan comprised 201.3 billion soums as of 1 October 2007. This exceeds the results of the previous year by 15%.