Pakhta Bank to be reorganized into Agrobank
Tashkent, Uzbekistan (UzDaily.com) --
President of Uzbekistan Islam Karimov signed a resolution on 30 March 2009 on reorganization of Pakhta Bank into Agrobank.
The new bank will be the rights holder of Pakhta Bank on property, finance and other obligations, as well as requirements guaranteeing the safety and timeliness of return of the funds of the legal entities and individuals. The bank was created in the form of the open joint-stock company.
The Ministry of Foreign Economic Relations, Investments and Trade jointly with the Finance ministry and the Central Bank have been entrusted with providing assistance to Agrobank in attracting preferential credits, investments and grants of the international financial institutions and the foreign financial and credit structures to strengthen the bank’s resource base.
The Cabinet of Ministers of Uzbekistan has to approve the structure of the Agrobank board in two weeks.