Uzbekistan and Armenia Expand Collaboration in Securities Market

Tashkent, Uzbekistan (UzDaily.com) — On 30 March 2026, the Central Depository of Armenia and the Central Depository of Uzbekistan signed an agreement to open a foreign nominal account holder, aimed at strengthening infrastructural cooperation and improving the efficiency of securities market operations in both countries.

The legal framework for the agreement is provided by the Presidential Decree of Uzbekistan dated 18 December 2025, “On Additional Measures to Improve the Investment Climate in the Capital Market.” The decree simplifies procedures for foreign investors to access the local market and aligns the national depository system with international standards.

A key element of the initiative is the special legal mechanism known as the “Regulatory Sandbox,” which allows for the testing of international depository integration into local infrastructure and the safe implementation of new financial solutions in the capital market.

The primary goal of the collaboration is to expand access for international investors to Uzbek securities, ensure reliable account rights tracking, and provide secure custody of assets. The agreement also aims to increase the efficiency of cross-border operations and foster broader financial cooperation between the two countries.

The arrangements establish conditions for the free movement of capital and elevate the interaction between financial markets to a new level. Both parties expressed confidence that the integration of depository systems will further enhance the investment attractiveness of Uzbekistan’s capital market.

The Central Depository of Armenia operates the unified securities accounting and settlement system in the country. In November 2025, it was registered by Uzbekistan’s National Agency for Advanced Projects as a participant in the Regulatory Sandbox program for the capital market sector.