Central Bank of Uzbekistan issues license to Kazakh bank

Finance Materials 23 May 2019 11:30 (UTC +04:00)

Baku, Azerbaijan, May 23

By Fakhri Vakilov – Trend:

The Central Bank of Uzbekistan has made a decision to issue a license to Joint-Stock Commercial Bank "Tenge Bank" of Kazakhstan, Trend reports with reference to the Central Bank.

The license enables Tenge Bank to conduct banking operations in Uzbekistan. The Bank does not plan to conduct operations on the Stock Exchange of the country.

Chairman of the Bank Umut Shayakhmetova said that Kazakhstani businessmen are very much interested in investing in Uzbekistan.

Tenge Bank is a subsidiary of the National Bank of Kazakhstan (Halyk Bank). It will be sixth bank with foreign capital and the first Kazakh bank operating in Uzbekistan.

The initiative was launched last year. Chairman of the National Bank of Kazakhstan. Daniyar Akishev stated that the Bank voiced his interest in working in Uzbekistan.

As was reported earlier, Tenge Bank will be located in the Yakkasaray district of Tashkent. Its capital will be about $ 15 million.


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