Uzbekistan establishes Tashkent International Financial Center

Tashkent, Uzbekistan (UzDaily.com) — President Shavkat Mirziyoyev has signed a decree establishing the Tashkent International Financial Center. The initiative also includes the creation of the Tashkent International Commercial Court as part of the center’s institutional framework.

The center will facilitate a wide range of financial activities, including banking and investment operations, insurance, work with digital and crypto assets, securities markets, payment systems, Islamic and green finance, financial technologies, as well as auditing, consulting, and legal services.

A special legal regime will apply within the center, established by a constitutional law. Management bodies of the center will have the authority to issue normative legal acts covering civil, corporate, commercial, financial, banking, and tax law, public procurement, labor relations, and personal data protection. Notably, English common law and principles of equity will be directly applied within the center—a precedent for Uzbekistan’s legal system.

The Tashkent International Commercial Court will operate with two instances: a first-instance court and an appellate instance.