In state-owned banks, non-performing loans made up 4.1% of the total loan portfolio.
Finance
Kazakhstan emerged as Uzbekistan's third-largest trading partner, after China and Russia.
Additionally, the president stressed the importance of implementing public-private partnership (PPP) projects worth $30bn.
The privatization process of the National Interbank Processing Center (NMPC), which manages the Humo payment system, was officially launched in mid-Ju...
As of October 2024, foreign-currency assets in the National Fund for the Republic of Kazakhstan (NFRK) amounted to $60.7bn, supported by 8.4% investme...
Among the most notable transactions, the Biznesni Rivojlantirish Banki (BRBN) saw trading volume reaching a remarkable 1.6 trillion soums ($125mn), ac...
The new Benelux Chamber of Commerce will complement EU-Central Asia cooperation, with the shared goal of supporting Uzbekistan’s integration into glob...
Click’s user base grew 17.1% y/y to over 18.4 mn by September 2024, up from 15.7 mn in 2023, while authorized accounts increased by 198%, reaching 3.3...
Banking NPLs in September held steady at an average of 4.2%. For state-owned banks, NPLs decreased slightly from 4.2% to 4.1%, while private banks inc...
In Uzbekistan, the transformation of state banks is critical, driven by President Shavkat Mirziyoyev's privatization policies. Despite a 2020 roadmap,...
As international payment systems leave Russia, neighboring countries like Uzbekistan offer a solution for Russians to apply for Visa and Mastercard ca...
This investment will focus on key sectors, including hydropower, railway and road construction, as well as residential mortgage development.
The yield on deposits with maturities of less than 12 months fell by 1.4%, reaching a low of 17.4% for the year. Meanwhile, the rate for long-term dep...
The Central Bank of Uzbekistan reported that the liabilities of these commercial banks stood at $47.8bn as of the same date, an increase from $39.3bn
This trade volume represents a slight decline of approximately 0.7% compared to the $6.9bn recorded during the same period in 2023. Exports to China f...
On August 20, the price of a gram of gold rose to nearly $84. Consequently, a 5-gram gold bar is now priced at nearly $420. These figures reflect the
These new ventures will focus on producing liquid nitrogen, sodium pyrosulfite, and other chemical reagents, with up to 70% of the output dedicated to...
The country's capital market, previously limited, aims to expand its market capitalization from $340mn to $8bn by 2030. Starting in January 2025, the
The decree was adopted by Uzbek leader Shavkat Mirziyoyev on August 12 and came into force on August 14. The project is estimated to cost €220mn, with...
Since the beginning of 2024, approximately $406.3mn has been recovered through completed criminal cases. Over the last 2.5 years, the agency has succe...
Effective September 1, pensions and allowances will see a 15% increase. Meanwhile, starting from October 1, salaries for teachers and medical professi...
Passenger numbers saw a 14.6% increase during the reporting period, with the airline carrying 4mn passengers. The airline also expanded its fleet, inc...
Abdulla Abdukadirov asserts that the Central Bank should refrain from involvement in the securities and deposit markets.
The bank acquired a 17.36% stake in Sarytogan Graphite, a company listed on the Australian Securities Exchange. The investment, amounting to $3.3mn, w...
During the meeting, two key agreements were formalized: 1. Launching the GEF Small Grants Programme in 2025 to support national biodiversity targets a...
The regulation will be effective until December 31, 2025, and applies to cable car projects that commenced after January 1, 2024.
In recent years, the KSE has broadened its market activities. The exchange began trading in precious metals in 2022 and introduced government securiti...
The grant aims to enhance Tajikistan's renewable energy supply by modernizing the Golovnaya hydropower plant. Specifically, it will replace power gene...
Currently, 143 cars are in need of repairs, and 59 locomotives have reached the end of their service life. In response, $50mn has been allocated from
The reduction in the main rate has directly influenced the annual interest rate of mortgage loans financed through centralized funds, leading to a pro...
The primary markets for Tajikistan's exports in 1H24 included Switzerland, receiving goods worth $298.5 mn; China, with $186.8 mn; Kazakhstan, at $118...
This relocation might result in a 10-20% increase in product costs due to changes in logistics.
The key reasons behind this upgrade include a strengthened sovereign balance sheet and exceptionally large external reserves.
Industrial production increased by 11.5%, agricultural output rose by 9.6%, and fixed capital investment grew by 15.7%. Trade turnover expanded by 11....
This revision reflects the expected substantial capital support from the Uzbekistan government in 2024, which is anticipated to stabilize the bank's c...
In July-August 2023, a technical assistance mission from the IMF engaged in the research, which involved detailed analysis of the expenditures of over...
Uzbekistan has undertaken far-reaching structural reforms over the past seven years to liberalize its economy and bolster growth, which also required
The bank allocated $300mn for power sector reforms to enhance structure, regulations, and governance, attracting private investment. An additional $10...
This figure reflects a 16.6% decline compared to June 2023. Uzbekistan remained the primary destination, receiving $60.4mn, which accounts for 39.3% o...
To deliver these Islamic finance services, MFIs must establish a dedicated board responsible for overseeing Islamic finance operations. Additionally,...
The country imported 1,592 tons of oil products from Belarus during this period. The monetary value of these imports rose by 1%, from $1.5mn to $1.6mn...
During the raids, more than 48,000 cases of illegal activities were uncovered. The proactive measures taken by the authorities resulted in the collect...
The project was first launched in October 2023 during the annual meeting of the World Bank and the International Monetary Fund (IMF) in Morocco. Curre...
This decision follows recent economic data showing a decline in core inflation and inflation expectations. In June 2024, the headline inflation was 10...
This announcement was made by Mr. Aziz Akbarjonov, Chairman of the Management Board of SQB.
This initiative enables Uzbek citizens aged 18 and older to invest in local securities, such as corporate bonds and stocks, without incurring personal...
The diverse sectors contributing to this growth include industrial production, agriculture, and construction, each showing robust increases.
Also, starting October 1, 2024, all persons with group I disabilities and their accompanying persons will be entitled to free travel on public transpo...