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Uzbekistan planning to reform banking system

Wednesday 13 May 2020 14:41 CET | News

The president of Uzbekistan has announced planning to reform the banking system and sell off state shares in six Uzbek banks.

The state shares in Ipoteka Bank, Uzpromstroybank, Asaka Bank, Alokabank, Qishloq Qurilish Bank and Turonbank will be privatised within five years, according to Xinhuanet.

Meanwhile, state shares in the authorised capitals of the National Bank for Foreign Economic Affairs, Agrobank and Microcreditbank will be maintained to provide financial services, support investment projects, and ensure regional accessibility of banking services during the reform period.

The new banking system should focus on market-based lending, the quality of the loan portfolio and risk management, corporate governance, and managers with international practice experience.


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Keywords: Uzbekistan, banking, Ipoteka Bank, Uzpromstroybank, Asaka Bank, Alokabank, Qishloq Qurilish Bank, Turonbank, National Bank for Foreign Economic Affairs, Agrobank, Microcreditbank, financial, loans
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Uzbekistan
This article is part of category

Banking & Fintech