Uzbekistan registers first foreign currency bond issue

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan’s National Agency of Prospective Projects has registered the first issue of corporate bonds denominated in foreign currency, the NAPP said.

The bonds were issued by Asia Alliance Bank JSC. The total issue volume is US$20 million, while the nominal value of each bond is set at US$100.

The securities will be placed through an open subscription.

The state registration of the issue was carried out in accordance with the Regulation on the Procedure for the Issuance, Placement, Circulation and Redemption of Bonds Denominated in Foreign Currency under the special legal regime “Regulatory Sandbox” in the capital market, registered on 29 April 2024 under No. 3826.

The possibility for resident issuers in Uzbekistan to issue corporate bonds denominated in foreign currency was created under the special legal regime “Regulatory Sandbox” in accordance with Presidential Decree No. UP-254 dated 18 December 2025, “On Additional Measures to Improve the Investment Climate in the Capital Market.”

According to the NAPP, the introduction of the new instrument is aimed at further expanding the range of financial instruments available on Uzbekistan’s capital market.