Finance

Fitch Assigns Ipoteka-Bank’s Debut Eurobonds Final ‘BB-’ Rating

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.

PSB provides loan for US$299m to NGMK

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).

Latest News

Fitch Assigns Ipoteka-Bank’s Debut Eurobonds Final ‘BB-’ Rating

25/11/2020Read more

Development of the service sector is defined as a priority for the next year

24/11/2020Read more

Uzbekistan - Germany: political mutual trust serves as the basis for strengthening relations

24/11/2020Read more

Central bank launches an instant payment system

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.

State Tax Committee launches a system for registration of electronic contracts

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.

International cooperation in the field of accounting and auditing considered

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 announces expansion of cooperation in financing projects in the oil and gas industry of Uzbekistan

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.

Visa Expands Fast Track Program to Enable Next Generation of Fintechs to Rebuild the Global Economy

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 places eurobonds for US$555 million and 2 trillion soums

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.

Assessment of sectoral and country risks of the insurance sector: General insurance sector of the Republic of Uzbekistan

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.

KAFIL-SUG’URTA receives a license

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.

Currency rates from 24/11/2020

$ 1 10414.86 +0.230%
€ 1 12344.73 +0.408%
₽ 1 136.69 +1.749%
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