Memorandum of Understanding signed between Directfn Ltd. and the Capital market development agency

Tashkent, Uzbekistan (UzDaily.com) -- On 25 January 2021, with the assistance of the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan, a ceremony of signing a Memorandum of Understanding between the Agency for the Development of the Capital Market of the Republic of Uzbekistan and DirectFN Ltd. (Saudi Arabia).

This event took place within the framework of the visit of the Saudi delegation to the Republic of Uzbekistan, headed by the Minister of Investment of the Kingdom of Saudi Arabia - Khalid Al-Falih at an official meeting with the Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov.

The agreement was signed by Mr. Atabek Nazirov, Director of the Capital Market Development Agency and Dr. A. Valid. Ballaa, Managing Director of DirectFN Ltd. During the ceremony, Atabek Nazirov noted the active development of bilateral relations between Uzbekistan and Saudi Arabia and welcomed the interests of DirectFN Ltd. in the development of the capital market of the Republic. Dr. Walid Al-Balla noted that partnership with the Agency is a "mutually beneficial asset", expressing readiness to introduce the latest relevant innovative fintech in Uzbekistan.

As a result of the event, an agreement was reached to start a constructive dialogue and cooperation with regard to considering the possibility of launching fintech into the capital market infrastructure in accordance with the legislation of the Republic of Uzbekistan.

DirectFN Ltd. - a subsidiary of the National Technology Group (1984), formed in 2000, Saudi Arabia. It enables digital innovation through fintech platforms (BMS: Brokerage Management System, AMS: Asset Management System, CRM: Client Relationship Management System), CMS: Custody Management System and AML: Antimoney Laundry System.