The bank said the newly issued shares will be placed on closed subscription among shareholders. The bank will emit 19,403,000 shares with par value of 250 soums each.

Central Bank of Uzbekistan issued license to Asia Alliance Bank private open joint stock commercial bank in August 2009.

The announced charter capital of new bank is over 4.85 billion soums and over 81% of charter capital owned by individuals, the Central Bank said.

Activities of the Asia Alliance Bank will be directed to assisting to deepen social-economic reforms in Uzbekistan, financing small and private businesses’ projects, etc.

Asia Alliance Bank, headquarters of which located in Tashkent, became the 31st commercial bank, which operates in Uzbekistan.