People’s Bank of Uzbekistan financed investment projects for 135.5 billion soums in nine months of 2009.
Two seminars, “Off-site control, conducting financial and tax reports analysis” and “Tax legislation, tax administration and tax prosecution” were held in the conference hall of “Jipek Joly” hotel in Nukus city on 12-16 October 2009.
Within the framework of the second phase of the mission of an international expert Mr. Daniel Luthi, a training on the issues of implementation of international tax treaties and methods of prevention of tax evasion was held in Tashkent on 19-23 October 2009.
Kuwait Fund for Arab Economic Development and the Government of Uzbekistan signed a loan agreement for 4.34 million Kuwaiti Dinars (about US$15.62 million) to assist in financing the project on Rehabilitation/Construction of Irrigation Network and Drainage System in Jizzakh and Syrdarya Regions.
Central Bank of Uzbekistan issued licenses to microcredit organization Delta mikrokredit tashkiloti LLC and Forum Kredit mikrokredit tashkiloti.
Central Bank of Uzbekistan registered four new credit unions in various regions of the country, the financial market regulator said.
Central Bank of Uzbekistan issued licenses to three new pawnshops in line with the article 50 of the Law “On Central Bank of Uzbekistan”.
Open joint stock commercial bank Credit Standard summed up the results of its financial activity for the third quarter of 2009.
Nearly 10% of economically active population in Kyrgyzstan use microfinance services; this number is expected to double in the nearest future, MGN Capital said in its report. Despite seemingly unusual terms (40-180% annual interest), microfinance still remains one of the most popular ways of securing loans due to its simplicity and wide availability.