On Measures to Encourage the Establishment of Private Commercial Banks

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09.07.2020

17.06.2009

15.07.2005

24.04.1997

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Document lost its force 01.08.2020

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07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.19.00.00 Banking System / 07.19.02.00 Commercial Banks. Private Banks. Foreign Banks;
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07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.20.00.00 Organization, Reorganization and Liquidation of Banks and Credit Institutions. Licensing of Banking and Credit Activities. Permitting Procedures]
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Finance / Banks and other credit institutions. Credits] Send suggestions for the document Listen to audio Get a reference from a document element Send suggestions for the document Listen to audio Get a reference from a document element Send suggestions for the document Listen to audio Get a reference from a document element Decree of the President of the Republic of Uzbekistan Send suggestions for the document Listen to audio Get a reference from a document element ON MEASURES TO ENCOURAGE THE ESTABLISHMENT OF PRIVATE COMMERCIAL BANKS Send suggestions for the document Listen to audio Get a reference from a document element LexUZ commentary This Decree loses its force on August 1, 2020, based on the Decree of the President of the Republic of Uzbekistan dated July 8, 2020, No. PF-6021 "On introducing amendments to certain documents of the President of the Republic of Uzbekistan, as well as on recognizing some of them as having lost their force." Send suggestions for the document Listen to audio Get a reference from a document element To create favorable conditions for the establishment and operation of private commercial banks, to attract private capital and to use it effectively in economic turnover:
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1. It is established:
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   In addition to commercial banks operating in the territory of the Republic of Uzbekistan, private commercial banks may be established, with the share of founders who are individuals in these banks constituting at least 50 percent of the authorized capital, and the remaining part belonging to legal entities not owned by the state; Send suggestions for the document Listen to audio Get a reference from a document element Citizens of the Republic of Uzbekistan may contribute funds to the authorized capital of private commercial banks without submitting a declaration on their income; See previous edition. (The fourth paragraph of paragraph 1 was issued based on the Decree of the President of the Republic of Uzbekistan dated June 17, 2009, No. PF-4116 "On introducing amendments to certain documents of the President of the Republic of Uzbekistan" — O'R QHT, 2009, No. 25, Article 282) See previous edition. (The fifth paragraph of paragraph 1 lost its force based on the Decree of the President of the Republic of Uzbekistan dated July 15, 2005, No. PF-3624 — O'R QHT, 2005, Nos. 28-29, Article 202) Send suggestions for the document Listen to audio Get a reference from a document element A license for a private commercial bank to conduct operations in foreign currency may be issued six months after the start of activity. Send suggestions for the document Listen to audio Get a reference from a document element
2. The Central Bank of the Republic of Uzbekistan, together with the Cabinet of Ministers of the Karakalpakstan Republic, regional and Tashkent city Khokimiyats, shall provide necessary assistance to private commercial banks in purchasing cash nodes and equipping them, and in equipping buildings in accordance with the requirements established by the Central Bank.
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3. The Republican Council coordinating the activities of control bodies shall not allow unjustified interference by control bodies into the activities of private commercial banks.
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4. The Cabinet of Ministers of the Karakalpakstan Republic, regional and Tashkent city Khokimiyats shall provide assistance in purchasing premises adapted for private commercial banks on a contractual basis.
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5. The Ministry of Justice of the Republic of Uzbekistan, together with the Central Bank, shall prepare and submit proposals for changes and additions to legislation arising from this Decree within one month.
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   It is recommended that the Central Bank bring its normative acts and instructions into compliance with the requirements of this Decree within one week. Send suggestions for the document Listen to audio Get a reference from a document element
6. Control over the implementation of this Decree is entrusted to the Central Bank of the Republic of Uzbekistan and the Ministry of Finance.
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   President of the Republic of Uzbekistan I. KARIMOV Send suggestions for the document Listen to audio Get a reference from a document element Tashkent, Send suggestions for the document Listen to audio Get a reference from a document element April 24, 1997, Send suggestions for the document Listen to audio Get a reference from a document element No. PF-1749 (Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1997, Nos. 4-5, Article 149; Collection of Legislation of the Republic of Uzbekistan, 2005, Nos. 28-29, Article 202; 2009, No. 25, Article 282)