Uzbekistan, its capital flows strictly controlled by the state, will take a step towards a less rigid financial system in April by allowing its people to bring their cash back to the country without official enquiries.
Legislative Chamber of Oliy Majlis of Uzbekistan passed a bill “On mandatory insurance of civic responsibility of employee” on its session on 13 February.
The charter capital of Ravnaq Bank reached 6.632 billion soums as of 1 January 2008 and its assets comprised 16.2 billion soums in the reporting period.
A delegation of the Arab Coordination Group (ACG) led by the president of the Islamic Development Bank, Ahmad Muhammad Ali, visited Uzbekistan at the beginning of July 2007, Narodnoye Slovo reported.
A Board of the Central Bank of Uzbekistan held a session to sum up 2007 results and set priority tasks for 2008. Chairperson of the Central Bank Fayzulla Mullajanov headed the session.
The credit portfolio of the commercial bans of Uzbekistan increased by 16.2% in 2007 to 4.757 rillion soums as of 1 January 2008. The volume of long-term credits made up 3.7 trillion soums.
Central Bank of Uzbekistan registered several new micro credit organizations, the Uzbek regulator said on its website.
The Asian Development Bank (ADB) is expanding its operations in Central Asia and the South Caucasus and in order to support this it will open new offices in Armenia, Georgia and Turkmenistan, the ADB said on its website.