Uzbekistan's Poytakht Bank gets license for conducting operations

Finance Materials 7 January 2019 16:10 (UTC +04:00)

Baku, Azerbaijan, Jan. 7

By Rashid Shirinov – Trend:

The Board of the Central Bank of Uzbekistan has decided to issue Poytakht Bank a license for the right to conduct banking operations, Trend reports citing the Uzbek media.

The authorized capital of the bank totaling 100 billion soums is formed at the expense of the Tashkent city administration.

The bank is established in accordance with the decree of the president of Uzbekistan dated March 13, 2017 "On additional measures to expand the scale of construction of affordable apartment buildings in Tashkent for 2017-2021".

The decree states that the new bank will provide mortgage loans and banking services to the public and legal entities to meet their housing needs.

Poytakht Bank will also provide credit resources to contractors building affordable apartment buildings, and perform customer functions in the design and construction of such buildings.

Moreover, the new bank will attract foreign investment and loans, as well as technical assistance from international financial institutions to finance the construction of affordable apartment buildings.


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