Central Bank of Uzbekistan has presented the draft program on the further enhancement of reformation and sustainability of financial-banking system by 2020

The activity of monetary, banking and financial systems in Uzbekistan is primarily focused on improvement of the country’s welfare, and provision of decent living standards. The new program of action, which is currently discussed by the expert community is called to strengthen this work.

Under the document, the Central Bank is intending to initiate a range of privileges for commercial banks. For instance, it is planned to grant a remission of property taxation with regard to ATM terminals, switching and other equipment for plastic card payments from January 1, 2016 to December 31, 2020.

The Central Bank also offers to exempt processing centers of retail payment systems from customs duties on the importation of software, automated teller machines and other devices used for plastic card payments.

The new document stipulates the development of measures on creation of additional conditions for receiving electronic payments in 2016. This mission was assigned to the Ministry of Information Technologies and Communications, together with Internet service providers and mobile operators.

Key areas of the document action are already known. For example, the ministry is to intensify efforts on creation of high-quality communication links with high capacity in the field, especially in remote and isolated areas of the country. To do this, the ministry will lay new fiber optic cables and replace the existing terrestrial channels, upgrading software and hardware systems and telephone stattions.

Mobile operators will take measures to install additional antennas and upgrade infrastructure to ensure high quality communication and smooth data transfer.

In general, the program is focused on four key trends. They cover strengthening of financial stability and improvement of quality of bank services, continued implementation of international norms, standards and performance indicators, streamlining of independent evaluation of the banking system, as well as expansion of cashless payments.

(Source: Uzbekistan Today» newspaper)

special industrial zone “Jizzakh”

Made in Uzbekistan: new enterprise has been launched

Diamond Carper, an enterprise on production of carpets, has been launched at the special industrial zone Jizzakh.

According to UzA, the capacity of new enterprise makes up 3,000 polypropylene yarn and 1.2 million square meters of carpets a year.

The enterprise is equipped with modern technologies and equipment. Some 20 new jobs were created in the result of launch of the enterprise.

Nine industrial enterprises has been launched at the special industrial zone Jizzakh in 2015. This year, it is planned to open new enterprises, which will start production of over 10 types of goods.



Jahongir Vohidov Won the International Chess Tournament “Tradewise Hastings Masters”

Jahongir Vohidov won the International Chess Tournament “Tradewise Hastings Masters” which was held in England.

International grandmaster from Uzbekistan Jahongir Vohidov in competition, consisting of 9 rounds, defeated Jack Rudd England, Jovica Radovanović from Serbia, Justin Sarkar from the United States, Aleksander Mista from Poland, Mate Bagi and Tamas Fodor of Hungary and tied with V Karthik India and Igor Khenkin from Germany.

At the international tournament, our chess player Jahongir Vohidov scored 7 points out of 9 and took the first place.

(Source: UzA)

Share This Post:

Manager Ouzbekistan