Qishloq Qurilish Bank to support construction in rural areas
Tashkent, Uzbekistan (UzDaily.com) --
President of Uzbekistan Islam Karimov signed a resolution on 30 March 2009 on creation of the Qishloq Qurilish Bank (Rural Construction Bank) on the basis of one of the country’s largest banks - Galla Bank.
The bank will focus on improvement of the living conditions of the rural population and construction works in the villages, speed up the development of the industrial and social infrastructure in the regions and wide introduction of the long-term crediting of the housing construction in the country.
The bank was created in the form of the open joint-stock company with a charter capital of 150 billion soums. The bank will be the rights holder of Galla 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.
Qishloq Qurilish Bank will be freed from payment of income and property tax, as well as customs duties for the imported bank equipment until 1 January 2012.