Foreigners to be allowed to enter the financial market of Uzbekistan

Foreigners will be allowed enter the financial market of Uzbekistan. This is stated in the presidential decree “On improvement of monetary policy by gradual transfer to the inflation targeting regime”.

According to the document, the Capital Market Development Agency, jointly with the Ministry of Finance and the Central Bank, by July 1, 2020, will develop specific mechanisms and tools to address the possible adverse effects of the proposals on terms, mechanisms and timing of non-resident entry to the financial market, and submit it to the Cabinet of Ministers.

In addition, the Central Bank of Uzbekistan, the Ministry of Higher and Secondary Specialized Education together with the Ministry of Finance and the Antimonopoly Committee, by April 1, 2020, will develop and approve an action plan to increase financial literacy as part of the National Strategy for Improving Public Finance, developed with technical assistance from the World Bank.