Regulatory Alerts1997-04-24 | ПФ-1749Added
On Measures to Encourage the Establishment of Private Commercial Banks
The decree permits the establishment of private commercial banks in Uzbekistan where individuals hold at least 50% of the authorized capital, allowing citizens to contribute funds without submitting income declarations. It mandates the Central Bank to issue foreign currency operation licenses after six months of activity and requires state bodies to assist with premises and equipment while preventing unjustified regulatory interference. The Ministry of Justice and the Central Bank are tasked with aligning legislation and internal regulations with these provisions within one month and one week, respectively.
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