Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan plans to allow exchange trading of currency bonds and expand the scope of the "regulatory sandbox" for local and foreign investors.
The corresponding draft law has been published for public discussion.
The document proposes the creation of specialized platforms on Uzbekistan’s stock exchanges for the issuance and circulation of currency bonds.
Both residents and non-residents of the country will be able to act as issuers of these bonds. Additionally, legal entities will be allowed to purchase foreign currency to fulfill obligations related to securities.
The draft law also includes the provision of an unlimited term for the "regulatory sandbox" regime. Domestic companies that have not experienced defaults or regulatory penalties in the last two years will be eligible to participate in this program.
Both local and foreign participants in the "regulatory sandbox" will have the opportunity to invest in international corporate bonds, government bonds, and exchange-traded funds (ETFs). International financial institutions will also be granted the right to issue bonds in soums.
According to the draft law, a document regulating the creation and operation of investment funds, including exchange-traded funds and real estate funds, must be prepared by 1 May 2025.
The discussion of the draft law will continue until 28 January, and citizens of Uzbekistan can submit their proposals and comments.
