Uzbekistan is considering the issue of granting rights to issue corporate bonds to limited liability companies (LLC), Atabek Nazirov, director of the Capital Market Development Agency, said during an interview with Business Laboratory.
“Now we are working closely on the possibility of providing LLC the opportunity to issue bonds,” Nazirov said.
According to the Law on the Securities Market, only joint-stock companies and commercial banks are issuers of corporate bonds in Uzbekistan.
“In addition, there are strict security requirements for bonds. We are also working to mitigate these requirements, to make them much understandable, to enable each investor to determine for himself which bonds he is willing to buy. Again, this will be a pilot project. I hope it will enable a certain circle of medium-sized companies to more actively look for money in the capital market,” the head of the agency added.
According to him, a project team is being created in the agency to analyze the regulatory framework, to which foreign experts and representatives of other departments will be invited.
“The task is to raise the level of stock market capitalization by at least 10 times,” Nazirov noted.
