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Respublika Uzbekistan, g.Tashkent, prospekt Bunedkor-ul.Mukimijj, 15
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Financial infrastructure

Financial infrastructure

Since the first day of declaration of independence of Uzbekistan invariable follows the basic purpose in the field of economy - to gradual transformation of the central planned economy to socially - guided market economy. During transition reform of financial sector has united many, if not everything, components of economic changes.
Creation of two-level bank system has begun process of system changes. The primary goal consist in creation of the "safe" organizations, capable to give a full set of financial services.
The bank system of Uzbekistan consists of the Central bank and it(him) 14 Main territorial managements, and also 32 commercial banks from which 2 are founded by the Government - National bank and National bank of foreign trade activities, 4 banks with participation of the foreign capital (the minimal size of the authorized capital - 5 million dollars. USA) and 4 private. In other banks being joint-stock, the state owns a part of actions(shares). Functions of financial bodies are distributed(allocated) between several establishments. The central bank has the exclusive right of monetary issue and coins, and also regulations of use of foreign currency in territory of republic. The central bank lets out money, carries out services in deposits and transfers for the Government, and also grants a loan to the Government.
In Tashkent Credit Коммерсиаль де Франс operates 14 representations of the largest banks of the world, including Чейз Манхетен Bank, Дойч Bank, Берлинер Bank, Коммерцбанка, АБР АМРО, etc.

National Bank of foreign trade activities

The bank is created in 1991. Has the correspondent network covering 430 banks, from them 399 foreign banks in 66 countries. Has 61 branch in republic, and by the end of 1998 their number will be lead up up to 102. The bank carries out functions of bank of design financing, export-import bank, and commercial bank, and is the agent of the Government of Uzbekistan in the international markets, the basic channel of service of the international credits and attraction of foreign investments. The bank serves the demand lines of credit open by export-import banks of USA, Japan, South Korea, Turkey, international financial institutions IFC, EBRD, ADB, agencies of export insurance of some the countries the largest banks of the world.
Means of the international financial institutions involved with bank and foreign banks are used for crediting the major for economy of republic of projects. Now the bank finances 101 project on a total sum 3,1 billion dollars. USA. 257 projects for the sum 4,8 billion dollars. USA are in a stage of preparation for financing. The basic branches where the greatest volumes of financing are involved, the food-processing industry, processing сельхозпродукции and others are oil refining, chemical and petrochemical.
A lot of attention is given a problem of financing of small and medium business.
On a rating of magazine " The Banker " for 1997 this bank with the capital 513,8 million dollars. USA borrows(occupies) 577 position among 1000 largest banks of the world and since 1995 on parameter BIS enters into the three of the most reliable banks of the world.

" УзДЭУ Bank "

" УзДЭУ the Bank " is created with the capital of 20,000,000 dollars. USA with individual share: 55 % - " ДЭУ Секъюритиз ", 10 % - КорАм Bank, 25 % the European Bank of reconstruction and development, and 10 %-with equal individual share of the Uzbek partners: National Bank of foreign trade activities and АКБК "Турон".
" УзДЭУ the Bank " is the international commercial bank giving universal bank services at a level of the international standards. The bank has good technical base, skilled and purposeful workers.
The bank carries out the activity, paying constant attention, to satisfaction of needs of the client, rendering high quality service in competitive quotations and with peak efficiency.
It(he) puts before itself(himself) the purpose completely to automate bank operations with application of advanced international system of payment. Competitiveness in granting fast and reliable services to clients thus is reached(achieved).
" УзДЭУ the Bank " aspires to strengthen trust of the clients abroad, and also those who began business from Uzbekistan, will use the best efforts for realization of salutary influence on economy of Uzbekistan by means of the contribution to development of an effective financial network.

Bank " Асака "

It is created in January, 1996 as государственно-joint-stock commercial bank. Founders - the Ministry of Finance of Uzbekistan, National bank of foreign trade activities. National bank and association " Узавтопром ". Has 16 branches and one branch.
Primary goals of Bank:
Accumulation of free means of legal and physical persons with a view of financing investment projects on development of motor industry of republic and the appropriate infrastructure, the enterprises of other branches of economy;
Complex кредитно-settlement service of the enterprises and the organizations of motor industry of its(her) infrastructure, and also the enterprises connected to realization and maintenance service of automobiles, the enterprises of other branches of economy;
Attraction of resources of foreign investors for financing the enterprises of motor industry and its(her) infrastructure;
Realization of operations with securities;
Realization of operations with foreign currency.
To bank " Асака " the demand line of credit of the European bank of reconstruction and development at a rate of 30 million the US dollars, directed on development of private small and medium entrepreneurship in republic is open.
Within the framework of the credit agreement in Bank the Program of Technical Cooperation operates. She(it) is carried out by group of advisers of Ireland (Bank of Ireland) and France (Credit Commerciale de France).
Except for it, by banks - correspondents demand lines of credit on trading financing are open.
Bank " Асака " - the active participant of a securities market, the official dealer of market GKO, takes a broker place on the Uzbek stock exchange, is a member of Association of banks of Uzbekistan.
The bank combines financing capital-intensive motor industry and its(her) developing infrastructure with traditional bank activity, with granting a wide spectrum of classical bank services, among which - settlement and cash service, international payments and conducting correspondent accounts, accommodation of means in the hard currency on international the markets, currency service of private persons, service of demand lines of credit of the foreign financial organizations, crediting of small and medium business, preferential crediting of citizens for purchase of automobiles, an estimation of projects, депозитарное service, consultations under the bank and financial legislation etc.
The bank is equipped with the present-day equipment of company " REUTERS " and means of telecommunications " REUTERS-Dealing 2000 ". Operations such as SPOT, SWAP, FORWARD are conducted.
The largest banks - correspondents: Chase Manhattan Bank (USA), Bank of New York (USA), ABN AMRO Bank (Holland), Deutsche Bank (Germany), Berliner Bank (Germany), Credit Suisse (Switzerland), Barclays Bank PLC (England), Korea First Bank (Korea), Korea Exchange Bank (Korea), Bank Brussels Lambert (Belgium) and others.

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