National interbank processing center in Uzbekistan; CB says no to exchange fluctuation in 2018; UZSE and Freedom Finance signed a memorandum of cooperation; UZSE and KASE sign agreement on cooperation; Cargolux wants to use Navoi as an international hub between Europe and Asia;
National interbank processing center is created in Uzbekistan
The Center is created in accordance with the presidential resolution “On Measures for development of the National Payment System” from 19 September 2018.
The head of Uzbekistan instructed the Central Bank to ensure, before 1 July 2019, creation of a full data processing center for functioning of the National Interbank Processing Center, the interbank payment system and the clearing center of the Central Bank of the Republic of Uzbekistan.
According to the document, until 1 January 2020, the Central Bank should launch the National Interbank Processing Center, which will interact between participating banks on local and international bank cards.
Central Bank says no significant fluctuation of exchange expected in 2018
During the remaining months of 2018, the Central Bank of Uzbekistan does not expect a significant fluctuation in the exchange rate relative to the beginning of the year.
On 18 September, the dollar and euro exchange rates in Uzbekistan sharply increased compared to last week. The dollar went up by 176.83 soums and reached 8039 soums, the euro – by 266.16 soums to 9347.75 soums.
The Central Bank noted that since August 2018, the influence of external factors, especially the devaluation trends of the currencies of the main trading partners (Russia – 19%, Kazakhstan – 17%, China – 9%, Turkey – 56%) impacted to the exchange rate of soums.
UZSE and Freedom Finance signed a memorandum of cooperation
Uzbekistan Stock Exchange (UZSEand the investment company Freedom Finance signed a memorandum on cooperation in the development of the stock market of Uzbekistan.
Within the framework of cooperation, the inhabitants of Uzbekistan will be able to earn money through investments in securities.
In Uzbekistan, in the coming years, it is expected to launch programs to privatize dynamically growing companies, which are now under state control. Residents of the country for the first time will have the opportunity to become co-owners of the largest national enterprises, with the prospect of starting to earn not only on dividend payments, but also on the growth of stock prices of these companies.
UZSE and KASE sign agreement on cooperation
Uzbekistan Stock Exchange (UZSE) and Kazakhstan Stock Exchange (KASE) signed a memorandum of understanding aimed at laying the foundations for cooperation between the two exchanges.
The purpose of the memorandum is to create a mechanism for long-term and comprehensive cooperation between the parties in order to improve the efficiency of the exchanges.
Within the framework of the document, the parties intend to establish long-term relations and exchange experience and information on the issues of the activity of markets and securities transactions.
Cargolux wants to use Navoi as an international hub between Europe and Asia
In the office of the National Air Company “Uzbekistan Airways”, the director of the airline, Bakhtiyor Hakimov, negotiated with the general regional director for CIS and Georgia of the airline Cargolux Airlines International S.A. Vugar Nasibov, and with Charles Klein, Head of the Department of the Directorate of Civil Aviation of Luxembourg.
At the meeting, the parties discussed the possibility of establishing cooperation in the field of air cargo and commercial flights through the International Intermodal Logistics Center “Navoi”, told the press service of the airline.