The first nine months of 2007 are characterized by the activation of insurance market, stipulated by the entrance of new players and increase of growth rates of the sector, according to specialists of SAIPRO company’s financial analysis and rating department.
IFC, the World Bank, and the International Housing Finance Program of the University of Pennsylvania’s Wharton School recently conducted a four-day workshop to enable more than 50 executives of state agencies and commercial banks in Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan to review global innovations of housing finance systems, IFC said in its press release on 26 November.
According to a new report Paying Taxes 2008 launched today by the World Bank, IFC, and PricewaterhouseCoopers Uzbekistan is among reformers which made it easier to pay taxes in 2006/2007; however, the country still ranks 159 in the world in terms of ease of paying taxes.
Tajikistan and Uzbekistan have agreed to restructure Tajikistan’s debt to Uzbekistan, a source at the Tajik Finance Ministry has told Tajik website Avesta on 23 November.
In line with the Resolution of the President of the Republic of Uzbekistan of 10 April 2007 "On measures to further reform and develop the market for insurance services", the State Insurance Inspectorate under the Ministry of Finance has prepared the draft of the Law of the Republic of Uzbekistan "On compulsory insurance of employer’s civil liability."
The assets of Asaka Bank, the second largest Uzbek commercial bank, made up 1.2 trillion soums as of 1 October 2007 or increased by 52.7% year-on-year.
Uzbekinvest and Nippon Export & Investment Insurance Agency (NEXI) signed a memorandum of understanding during the Uzbek-Japanese Business Forum in Tashkent.
The Asian Development Bank (ADB) today held the first in a series of consultative meetings as part of ADB’s efforts to update its safeguard policies.
The only active insurance company in Uzbekistan specialized in life insurance, UzbekInvest Hayot has announced the increase of its authorized capital to the level of 1.5 billion soums.
On 24-25 October 2007, the Area-Based Development Program (ABD) held presentations of two microcredit products in Nihan and Kitab districts of Kashkadarya region. The products were designed within the ABD Program initiated by the United Nations Development Programme (UNDP) and will be provided to dehkan and farming entities of the above districts through Kashkadarua regional department of Business Women Association.