The stable sector outlook in Uzbekistan reflects the predominance of state-owned companies in loan portfolios and of state-owned lenders in the banking system, and Fitch’s expectation of continued government support for these entities.
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Central Bank of Uzbekistan does not expect sharp fall in exchange rate of national currency
The Central Bank of Uzbekistan said on Wednesday that a sharp depreciation of the local currency soum is unlikely, despite a significant drop in the exchange rate of the Russian ruble and the Kazakh tenge.
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EU prepares to list coronabonds to mitigate effects of coronavirus
The European Commission is looking at all instruments at its disposal, including loosening debt rules for member states and issuing common euro zone bonds, to cushion the economic fallout from the coronavirus outbreak, its president said on Friday.
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Dow plunges 10% in worst day since ’87 crash
Thursday’s losses came even as Federal Reserve announced it will pump half-a-trillion dollars into the financial system for short-term funding for banks.
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New digital bank may appear in Uzbekistan
On March 9, 2020, the Committee on Banking Supervision of the Central Bank of the Republic of Uzbekistan made a decision to issue a preliminary permit for the establishment of a digital bank ANOR BANK in Tashkent, the Republic of…
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Uzbekistan to introduce tax-free system
The State Tax Committee was instructed to develop a sample receipt that will serve as a basis for VAT refund for exported goods, as well as samples of the logo for retail stores.
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Tenge Bank in Uzbekistan intends to increase market share through loans to small and medium-sized businesses
Tenge Bank became the first foreign bank in Uzbekistan in recent years, as it entered with a capital of 118 billion soums (about $13 million). After receiving the license in May 2019, the Bank ranked 25 out of 30 in…
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Head of Uzbek Central Bank advises banks to be careful with car loans
According to statistics, in 2019, Uzbek banks issued loans worth $1.17 bn.
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Central Bank of Uzbekistan keeps main rate unchanged
The Central Bank of Uzbekistan has decided not to raise the main rate and left it at 16% per annum. This was announced by the Chairman of the regulator Mamarizo Nurmuratov during a press conference.
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Gulomjon Samadov: «cooks, taxi drivers and brokers do not pay taxes»
According to Eldor Tulyakov, Executive Director of the Development Strategy Center, Uzbekistan has been actively fighting against the shadow economy since last year. For this purpose, the Tax code was adopted in a new version.
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