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Finance 08/05/2018 Charter capital of People’s Bank and Microcreditbank to be increased
Charter capital of People’s Bank and Microcreditbank to be increased
Tashkent, Uzbekistan (UzDaily.com) -- The charter capital of the People’s Bank and Microcreditbank will be increased by 1.6 trillion soums and 600 billion soums respectively.

President of Uzbekistan Shavkat Mirziyoyev signed a resolution "On measures to improve the financial condition and further improve the activities of the People’s Bank of Uzbekistan and Microcreditbank".

According to the document, the authorized capital of the People’s Bank will grow by 1.6 trillion soums in 2018-2019. In particular, the bank will receive 1 trillion soums from the state budget and US$75 million from the resources of the Fund for Reconstruction and Development of Uzbekistan.

In 2018-2019, Microcreditbank will receive 600 billion soums, including 10 billion soums from the republican budget in 2018.

Banks also received tax and customs benefits until 1 January 2023.

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