Baku, Azerbaijan, Jan. 5
By Nigar Guliyeva – Trend:
The Central Bank of Uzbekistan can henceforth lend to local banks in case of need, according to the additions made to the relevant banking laws in the country.
The Central Bank has the right, under the conditions established by it, to issue loans to banks on bail of gold, currency values, government debt obligations, commercial bills, etc.
Under the amendments, if banks have a liquidity deficit, and there are no collateral assets, the Central Bank is entitled to provide short-term loans to banks without collateral. The procedure and terms of lending in this case is established by the Central Bank itself and published in the media, as well as on its official website.
The law came into force on January 5, 2018.
As many as 28 commercial banks operate in Uzbekistan,including three state banks.
The official exchange rate for Jan.5 is 8136.67 UZS / USD.