Baku, Azerbaijan, Sept. 18
By Fikret Dolukhanov – Trend:
Individuals in Uzbekistan will now be able to own over 25 percent of authorized capital of commercial banks of the country, Norma.uz announced, referring to the corresponding decree of the Central Bank of Uzbekistan.
The document provides for changes in the regulations on the procedure for registration and licensing of banks.
Earlier, the share of one shareholder or group of related shareholders in the authorized capital of a commercial bank, other than the state's share, could not exceed 25 percent of the total amount. It did not apply to banks with participation of foreign capital and private banks.
The restriction has now been completely removed.
In banks with participation of foreign capital, the share of foreign investors should be at least 30 percent. The minimum threshold has now been reduced to 15 percent.
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