NBU to be transformed into a JSC

President Shavkat Mirziyoyev signed a decree on measures to transform the unitary enterprise “National Bank for Foreign Economic Affairs of the Republic of Uzbekistan” into a joint-stock company.

The Ministry of Finance, together with the NBU JSC, was instructed to renew the issued state guarantees for the obligations of borrowers and lenders of the converted National Bank of Uzbekistan within two months.

It is planned to create a joint-stock company NBU INVEST GROUP on the basis of the investment company LLC NBU INVEST GROUP, with the expansion of its participation in financial markets, in the implementation of investment projects, including through equity participation in the authorized capital (up to 100%) of business entities in limits of bank profit.

Also, with the involvement of international consultants, a Bank Development Strategy for 2020-2023 will be developed. In addition, certain non-core assets of NBU in the form of shares will be transferred to the Agency for State Assets Management.