Uzbekistan to open bank with foreign participation not less than 15% in the authorized capital

Almaty. January 30. Silkroadnews – Uzbekistan has created “Uzagroeksportbank” with foreign participation not less than 15% in the authorized capital, Uzbek Telegraph Agency (UzTAG) reports.

“To recommend the Bank “Uzagroeksportbank” to attract a strategic foreign investor with a share not less than 15 percent in the authorized capital till January 1, 2020”, the decree by the President of Uzbekistan “On establishment of the joint-stock commercial bank “Uzagroeksportbank”.

The bank is established “to support financial institutions, exporters, efficient and sustainable development of fruit and vegetable products export potential, create favorable conditions for producers of agricultural products and population, provide a wide range of banking and financial services”.

According to the decree, the founders and the amount of the initial authorized capital equivalent to 10 million euros are approved. Residents and non-residents of Uzbekistan, including international financial institutions can act as shareholders of the new Bank.