Regulatory Alerts2000-03-21 | ПФ-2564Added
On Measures for Further Liberalization and Reform of the Banking System
The decree mandates commercial banks to increase lending to small businesses and agriculture, requiring them to offer deposit interest rates of at least 75% of the Central Bank's refinancing rate for term deposits and 50% for other deposits. It establishes a collective insurance fund for household deposits with a statutory capital target of 500 million soums, guarantees unlimited cash withdrawals for depositors across all bank branches, and prohibits government interference in bank management and asset risk decisions. The Central Bank is instructed to implement a variable refinancing rate mechanism starting April 1, 2000, and to introduce a rating system for bank reliability and liquidity.