Draft law “On Central Bank” in new edition developed in Uzbekistan
08/06/2018 17:40
Draft law “On Central Bank” in new edition developed in Uzbekistan
08/06/2018 17:40
Tashkent, Uzbekistan (UzDaily.com) -- The draft law “On Central Bank of Uzbekistan” in new edition was developed in Uzbekistan.
The document said that the Central Bank is a legal entity and is in the exclusive ownership of the state.
The main objectives of the Central Bank are to ensure price stability, stability and development of the banking system, stability and development of the payment system. Getting profit is not the main goal of the Central Bank, the document said.
The main tasks of the Central Bank are:
According to the draft law, the Central Bank has no right to engage in financial assistance and carry out commercial activities, as well as to issue guarantees to third parties, including those of the Government of the Republic of Uzbekistan.
The regulator also has no right to take part in the capital of banks and other legal entities, except for participation in the capital of the currency exchange, as well as enterprises and organizations that support the activities of the Central Bank.
The size of the authorized capital of the Central Bank is two billion soums. It can be increased in line with the decision of the Senate of the Oliy Majlis of the Republic of Uzbekistan.
The authorized capital of the Central Bank is not subject to transfer or use as a mortgage security, the draft law said.
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