Fitch Ratings has assigned Ipoteka-Bank’s US$300 million 5.5% debut Eurobond placement due in 2025 a final rating of ‘BB-’. The bank is using the proceeds mainly for extending foreign-currency facilities to local borrowers in Uzbekistan.
Promsvyazbank provided one of the world’s largest gold producers to the Navoi Mining and Metallurgical Plant (NGMK) with a revolving credit line in the amount of US$200 million to finance the company’s investment projects. This was reported by the press service of PJSC Promsvyazbank (PSB).
In order to create wide opportunities for legal entities and individual entrepreneurs, in February this year, the Central Bank launched an Instant Payments System, which allows payments to be made online around the clock.
The State Tax Committee of Uzbekistan (STC) has launched a system for registering electronic contracts. This was reported by the press service of the committee.
On 19 November 2020, the XVII meeting of the Coordinating Council on Accounting of the Member States of the Commonwealth of Independent States (CIS) was held. In connection with the situation continuing in the world due to the coronavirus pandemic, this meeting was held in the format of a video conference.
VEB.RF, in a consortium with Russian partner banks, is ready to work out financing of the second stage of the program to increase hydrocarbon production being implemented in Uzbekistan. The total volume of loans planned for attraction is estimated at US$650 million, according to the corporation’s website.
The COVID-19 pandemic has created major financial challenges for businesses and consumers alike. As money management becomes increasingly digital, fintechs play a pivotal role in helping to restore and rebuild the global economy. To provide increased support for the ecosystem, Visa announced two new components of its fintech Fast Track program
The Ministry of Finance of Uzbekistan has placed two tranches of international bonds (eurobonds) in the amount of US$555 million and 2 trillion soums.
S&P Global Ratings assesses the industry and country risks of the general insurance sector in the Republic of Uzbekistan as high - as in Russia, Azerbaijan, India, Kenya and Turkey.
In accordance with the order of the Agency for Development of the Insurance Market under the Ministry of Finance of the Republic of Uzbekistan, Limited Liability Company "KAFIL-SUG’URTA" was issued a license of SF series No. 00003 from 18 November 2020 for the implementation of voluntary and compulsory insurance services.