Finance

Uzbek leader resolves to boost financial sector

President of Uzbekistan Islam Karimov signed a resolution on 7 November to raise minimal requirement of the charter capital of the banks from 2008.

Ipoteka Bank invests over US$40 mln in small business

As of October 1 2007, the Ipoteka Bank (Mortgage Bank) Joint-Stock Commercial Innovative Bank had some 50,000 small business entities as clients, the bank’s press service said.

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UzKDB’s net income increases by 19%

Net income of UzKDB, Uzbek-Korean bank, increased by 19% year-on-year to 3.2 billion soums as of 1 October 2007.

New pawnshop registered in Tashkent city

Central Bank of Uzbekistan issued a licence to Kredit biznes plus, which allows it to carry out activity of pawnshop.

Central Bank to issue three new micro credit organizations

Central Bank of Uzbekistan registered three new micro credit organizations in line with legislation of Uzbekistan.

Uzpromstroybank issues 771,000 plastic cards

Uzpromstroybank (Uzbek Industrial and Construction Bank) issued over 771,000 plastic cards as of 1 October 2007.

Number of plastic cards in Uzbekistan increases by 491,000

Uzbek commercial bank issued over 491,000 plastic cards and the total number of emitted plastic cards reached 3.578 million as of 1 October 2007.

Central Bank Board discusses banking system’s development in 3Q 2007

The Board of the Central Bank of Uzbekistan met to discuss the results of the banking system’s development in the first nine months of this year, and the performance of the tasks outlined by the President of the country Islam Karimov at the government meeting on 12 February 2007, and the tasks set at the meeting of the Cabinet of Ministers held on 16 October 2007.

Cooperation of insurance inspectorates of EurAsEC countries develops

On 25-26 October a delegation from Uzbekistan participated in the eighth meeting of the Council of the Heads of Insurance Supervision and Regulation Agencies under the Integration Committee of the Eurasia Economic Community (EurAsEC) in Moscow.

ADB President visits Uzbekistan to strengthen cooperation

The President of the Asian Development Bank (ADB) Haruhiko Kuroda arrived on 31 October in Tashkent for a two-day official visit as part of efforts to further strengthen ADB’s relationship with Uzbekistan and to gain first hand perspective on the progress of ADB operations in country.

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