On 17 October, a signing ceremony of the Terms of Reference for the budget and financial reporting and the Government Debt and Infrastructure Financing Program (GDIF) between the Office of Technical Assistance (OTA) of the US Department of the Treasury and Ministry of Finance of the Republic of Uzbekistan was held.
Pursuant to the Decree of the President of the Republic of Uzbekistan dated May 13, 2019 No. UP-5715 “On Additional Measures for the Development and Expansion of the Mortgage Lending Market”, an analysis is made of the effectiveness of the implementation of targeted state programs for the construction of affordable housing, in line with the development of proposals for their unification and consolidation, providing for , including the revision of lending conditions in order to ensure the accessibility of residential buildings and apartments for the general population.
In July-August 2019, a certain acceleration in the growth of demand for foreign currency was observed under the influence of internal and external factors, and as a result, the devaluation of the national currency accelerated, the Central Bank of Uzbekistan said.
Residents of Uzbekistan and foreign guests have the opportunity to withdraw funds in national currency from international Mastercard cards. HUMO ATMs installed in the cities of Uzbekistan will serve citizens and tourists 24/7.
A new edition of the tax code was discussed at the Banking and Finance Academy of the Republic of Uzbekistan with the participation of teachers from the academy, employees of the State Tax Committee and the Ministry of Innovative Development.
By a Government resolution, Kamoliddin Fakhrutdinovich Talipov was appointed as the Director of the Agency for the Development of the Insurance Market under the Ministry of Finance.
The Government adopted a resolution “On measures to organize the activities of the company “Company for refinancing mortgages in Uzbekistan”.
Fitch Ratings has affirmed Uzbekistan-based JSC Insurance Company Kafolat’s Insurer Financial Strength (IFS) Rating at ‘BB-’. The Outlook is Stable.
As previously reported, from 1 October 2019, in accordance with international practice, a procedure was introduced for withdrawing funds from international payment cards through ATMs in the country exclusively in national currency - “soums”.
The Ministry of Investment and Foreign Trade, together with the German federal government represented by the KfW Development Bank, plans to launch the financial sector program “Financing Micro, Small and Medium Enterprises (MSMEs)” in the second half of 2020.