Ministry of Finance of the Republic of Uzbekistan and TheCityUK have signed a Memorandum of Understanding to establish a partnership on developing Uzbek capital market

On December 6, 2021, virtual signing ceremony of the Memorandum of Understanding (“MoU”) between Ministry of Finance of the Republic of Uzbekistan and TheCityUK took place. The MoU provides basis for bringing the UK experience and best practices to Uzbekistan’s capital market and supporting its development and regulation.

The memorandum aims to primarily support and stimulate the consistent development of the local capital market of Uzbekistan and ensure that professional services in the financial and capital markets are provided according to international standards.

Particularly, within the framework of the memorandum, work will be taken forward on the improvement and development of the local capital market infrastructure, enhancement of the regulator`s surveillance and regulatory functions, implementation of international in the legal environment of the capital market, with more emphasis on corporate governance and asset management.