Uzpromstroybank establishes SQB Securities investment intermediary

Tashkent, Uzbekistan (UzDaily.com) - On 2 March, the Agency for the Development of the Capital Market issued licenses to an investment intermediary, an investment adviser, and a trustee for investment assets of SQB Securities LLC, which is part of Uzpromstroybank JSCB group.

Director of the Capital Market Agency Atabek Nazirov solemnly handed licenses to the Deputy Chairman of the Board of JSCB Uzpromstroybank Ulugbek Tavakkalov and Director of SQB Securities LLC Amur Jalilov and wished the new participant in the capital market great achievements in promoting the development of this market.

“We warmly welcome the active involvement of commercial banks in the capital market as professional participants. We intend to further develop partnerships between our banks and international investment companies in order to provide an opportunity for foreign investors to actively participate in the privatization processes of our companies and increase liquidity in the capital market,” said Atabek Nazirov.

It should be noted that the practice of establishing domestic legal entities by individual commercial banks and obtaining the appropriate licenses for professional activities in the capital market is gaining momentum, despite the fact that commercial banks have the right to participate in the capital market without obtaining licenses.

According to Amur Jalilov, the Company intends to focus on entering international capital markets and consolidating the position of the main link between international and local markets, this goal will be achieved through the introduction of innovative solutions, products and services on the capital market through cooperation with both local and and with foreign partners in investment banking.