Finance

Kazakh, Uzbek insurance companies’ cooperation development discussed in Tashkent

Extraordinary and Plenipotentiary Ambassador of Kazakhstan to Uzbekistan Askar Myrzakhmetov held talks with leadership of Uzbekinvest national export-import insurance company.

IMF’s mission sees continued economic growth in Uzbekistan in 2007

International Monetary Fund (IMF), the Government and the Central Bank of the Republic of Uzbekistan issued the following statement (translated from the original statement in Russian) on 13 June 2007 based on the results of the IMF mission’s visit to Tashkent:

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Azimuth Airlines increases the frequency of flights from Moscow to Termez

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Central Bank: current account deficit of the balance of payments amounted to US$511 million

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IMF mission visits Uzbekistan to evaluate situation in country

A mission of the International Monetary Fund (IMF) visited the Republic of Uzbekistan from 4 June through 13 June 2007. The mission was headed by Ms. Sena Eken, assistant director in the Middle East and Central Asia Department of the IMF.

ADB delegation arrives in Uzbekistan to review country’s development

A delegation of the Board of Directors of the Asian Development Bank (ADB) started five day visit to Uzbekistan on 15 June, the ADB Resident Mission in Uzbekistan said in its press release.

Ravnak Bank to perform foreign currency operations

Ravnak Bank, a private joint-stock commercial bank, received the General License of the Central bank of Uzbekistan No. 29 allowing it to perform operation in foreign currency on 4 June 2007.

Uzbek officials study risk analysis system development in Latvia

On 3 - 8 June 2007, a delegation of Uzbekistan participated in the study tour to learn the system of risk analysis in State Revenues Service of Latvia. The visit was organized by UNDP “Improving Tax Administration n Uzbekistan” Project jointly with International Financial Corporation (IFC).

Competition in money transfers market of Uzbekistan saved consumers US$50-60m

A seminar on "Supporting competition in economy-in-transition and developing countries" was held on 29 May in Moscow, State Committee of Uzbekistan for Demonopolisation, Support of Competition and Entrepreneurship said.

CBU issues new licenses to financial institutions

Central Bank of Uzbekistan issued new licenses to new financial institutions in line with Uzbek legislation.

Association of Professional Insurance Market Participants Is Set Up in Uzbekistan

An Association of Professional Insurance Market Participants has been established in Uzbekistan and will start working at the beginning of June, the State Service for Insurance Supervision of the Republic of Uzbekistan.

Uzbekistan prepares draft law on CTPL insurance

A draft law on compulsory third-party liability (CTPL) insurance has been prepared in the Republic of Uzbekistan. The draft may be passed this autumn, Olim Ikramov, head of the State Service for Insurance Supervision within the Ministry of Finance of Uzbekistan, said.

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