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Finance 03/01/2012 Aloqabank emits depository certificates for 100bn soums
Aloqabank emits depository certificates for 100bn soums
Tashkent, Uzbekistan (UzDaily.com) -- Open joint stock commercial “Aloqabank” offered depository certificates for legal entities with total sum of 100 billion soums.

Maturity term of the deposit certificate makes up from six months to three years. The par values of deposits are 1 million soums, 10 million soums, 100 million soums, 500 million soums and 1 billion soums.

Yield of the certificates makes up 50% of refinancing rate of the Central Bank for papers with maturity term of 6-12 months, 50% of refinancing rate of the Central Bank plus 1% for securities with maturity of 13-24 months and 50% of refinancing rate of the Central Bank plus 2% for certificates with maturity of 25-36 months.

The bank said that interest rates on certificates will be paid each month during all term of certificate circulation.

In line with resolution of the Uzbek President from 28 July 2009, legal entities are exempted from income tax on received income, from investments directed to deposits and long-term securities of the commercial banks for over a year.

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