Tashkent, Uzbekistan (UzDaily.com) -- The Ministry of Finance and the Central Bank will place state securities from 26 to 28 December 2018.

According to the Central Bank, the bodies intend to place government securities with a face value of 1 million soums with maturities of up to 6 months, 1 year and 3 years.

The first issue will take place on 26 December. The volume of placement will be 200 billion soums. Circulation term is 182 days.

The second issue will take place on 27 December. The volume of placement will be 200 billion soums. Circulation term is 365 days.

The third edition will be held on 28 December. The volume of issue will be 200 billion soums. Circulation term - 1092 days.

The primary placement of government securities is carried out in the form of an auction on the Uzbek Republican Currency Exchange (UzRVB), conducted by the Central Bank on behalf of the Ministry of Finance.

Dealers in the government securities market can become commercial banks or other legal entities that have been granted the right to operate as a financial intermediary and are members of the UzRVB.

The state securities are provided with all assets held by the Government of the Republic of Uzbekistan and are located among commercial banks and legal entities - residents of the Republic of Uzbekistan.

Interest payments on state securities are made by the Ministry of Finance during the whole period of their circulation in accordance with the terms of the issue. Interest income on government securities is exempt from income tax.

State securities gives the right to receive a nominal value at their redemption and interest income during the entire term of ownership of these securities.

The securities issued for a period of up to one year, with a “zero” coupon rate, i.e. a discount, as well as for a period of more than one year with a coupon interest rate (the method of calculating the yield of government securities is published on the official website of UzRVB).

At the same time, the yield on government securities is determined depending on the financial market conditions, based on supply and demand.