Activities of depository institutions expected to be improved in Uzbekistan

On the public reference portal “Mening fikrim” (My opinion), a petition on improving the activities of depositary institutions in Uzbekistan was proposed.

It is noted that the development of depositary institutions creates a great deal of opportunities for the people. However, number of inconveniences in the sector, such as filing couple dozen of documents, waiting for intermediaries’ responses and others are cutting short the clients’ intentions to enter the securities market.

“Reducing the number of required documents in the process will undoubtedly have a positive impact on the costumers’ activeness in the securities market. Therefore, we propose to cut the number of documents envisaged in the several articles of the “Single regulatory norms for depository accounting and reporting”, which was registered on Dec. 12, 1999 by the Ministry of Justice,” the petitioner says.