The Presentation of the new European Union funded project on Financial Education Program (FEP) was commenced in Tashkent.
London-based accounting group Russell Bedford International has taken further steps to expand into former Soviet Union countries by taking on firms in Kazakhstan and Uzbekistan.
Uzbekistan received remittances for US$699 million from Russia in the third quarter of 2009. Uzbekistan leads on the volume of transactions among the CIS states.
Open joint-stock commercial bank Samarkand fully placed emission of shares, registered under the No. PO302-5 from 12 December 2008.
On 10 December, Standard & Poor’s Rating Services published its assumptions for credit stress testing of Kazakh financial institutions in an article titled "Assumptions: Credit Stress Testing Banks In Kazakhstan".
Standard & Poor’s Ratings Services believes that the Kazakh banking market is poised for further asset-quality deterioration and refinancing risks over the next two years. Even if conditions improve and economic growth resumes, Standard & Poor’s believes the pace at which banks can recover the costs of past aggressive lending expansion will be slow.
A conference organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities and the International Organization for Migration on migrant investment, return and economic reintegration for development in the South East European and Central Asia regions started in Vienna on 10 December.
Turon Bank issued depository certificates with par value of 50 million soums and 100 million soums.