Uzbekistan Opens Competition for Tashkent IFC Leadership

Tashkent, Uzbekistan (UzDaily.com) — The Ministry of Investment, Industry and Trade of Uzbekistan has announced a competition to fill key leadership positions within the Tashkent International Financial Centre (TIFC), including the post of Managing Director of the Centre’s Administration and Head of the Financial Services Authority.

The Tashkent International Financial Centre was established under Presidential Decree No. UP–48 dated March 30, 2026.

In line with presidential instructions, the formation of the management team has begun from scratch to ensure the operational launch of the centre in early 2027.

The TIFC is positioned as an investment hub for Central Asia, operating under a special legal regime for foreign investors.

The model envisions elements of English common law, an independent judicial and arbitration framework, and competitive business conditions aimed at attracting international capital.

The Managing Director will serve as the highest executive authority of the centre, reporting to the TIFC Council chaired by the President of Uzbekistan. The role also includes serving as secretary of the Council and overseeing all administrative divisions.

Key responsibilities include operational launch of the centre, formation of the management team, development of internal regulations, and creation of a “single window” system for resident registration.

Particular emphasis is placed on attracting international financial institutions, banks, and investment funds, as well as developing the centre’s global positioning strategy.

Another priority will be participation in regulatory framework development in coordination with state bodies, ensuring alignment with international standards, including FCA, IOSCO, and FATF practices. The centre is expected to achieve operational sustainability and break-even within 5–6 years.

Separately, a competition has also been announced for the Head of the Financial Services Authority, which will act as an independent regulator within the centre. Its mandate will include licensing, supervision, regulatory oversight, anti-money laundering and counter-terrorism financing, as well as development of a regulatory sandbox for fintech and digital assets.

The regulator will engage with international organizations including IOSCO, FATF, and FSB, as well as financial regulators in other countries. Its operations will be based on independence, transparency, and global standards, including Basel III/IV and FATF recommendations.

Candidates for both positions are required to have at least 15 years of senior management experience in financial sectors, international organizations, or government institutions, as well as knowledge of common law principles and fluency in English.

Selected candidates are expected to begin work in the third or fourth quarter of 2026. The selection process will include screening, interviews, and reference checks.

Applications are being accepted through the official channel of the Ministry of Investment, Industry and Trade of Uzbekistan.