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Finance 08/04/2010 New requirements to banks’ charter capitals set in Uzbekistan
New requirements to banks’ charter capitals set in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- President of Uzbekistan Islam Karimov signed a resolution “On measures on further improving financial sustainability and strengthening of investment activity of the banking system” from 6 April 2010, which set minimal requirements to the charter capital of newly created commercial banks in Uzbekistan.

In line with the document, the minimal size of the charter capitals to newly created banks set at 10 million euros for commercial banks and 5 million euros for private banks in soums equivalent.

The Central Bank of Uzbekistan in cooperation with commercial banks were entrusted to develop and realize measures on increasing charter capital of commercial banks in 2010 to set requirements.

Uzbek President Islam Karimov agreed with the decision of the shareholders and supervisory councils of the commercial banks on attraction of additional resources and increasing aggregate capital of the banks in 2010 to 490 billion soums.

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