BAKU, Azerbaijan, May 14
By Ilkin Seyfaddini - Trend:
Two state banks of Uzbekistan, Poytaxt Bank and Uzagroexport Bank, may be reorganized, Trend reports with reference to the Ministry of Finance of Uzbekistan.
Reorganization of the banks is envisaged by the Strategy of reforming the banking system of Uzbekistan for 2020-2025.
The Strategy defines goals, objectives and priorities of the national banking system development, directions of its transformation and reforming, ways of searching for possible solutions on the basis of experience of foreign countries and taking into account world trends in the financial sphere.
Uzagroexport Bank was established in 2017 to promote agricultural products in foreign markets and attract finance for the development of the industry. The main package of shares (75 percent) belongs to the Fund for Reconstruction and Development of Uzbekistan.
Poytaxt Bank was established in 2019 and is engaged in providing mortgage loans, financing development projects, performing the role of a customer in the design and construction of low-cost apartment buildings. The entire block of shares belongs to the City Hall of Tashkent.
According to the decree, in June 2020 the diagnostics and assessment of the financial state of banks should be carried out, and in September decision on reorganization should be made, the message said.
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