PRESS OF UZBEKISTAN
March 31, 2017
A NEW JOINT-STOCK COMMERCIAL HOUSING AND CONSTRUCTION SAVINGS BANK, POYTAKHT BANK, IS TO BE SET UP IN TASHKENT
The authorized capital of Poytakht Bank will be built in the equivalent of at least 10 million euros, 3 billion soums (currency rates of CB RU from 31.03.2017, 1$= 3595.02 soums) of which will be invested from the Tashkent budget as an initial deposit, as well as by legal entities and individuals, including foreign investors.
Once the charter capital is formed and documents submitted, the Central Bank will process the state registration of the bank in accordance with the established procedure, and subsequently issue a license for foreign currency operations.
Key functions of the new financial institution will come to mortgage lending and banking services for the population and legal entities in terms of meeting their housing needs, as well as provision of credit resources to the contractors engaged in the construction of affordable multi-apartment buildings.
Another area of Bank’s missions implies the fulfillment of customer's functions in terms of engineering and construction of affordable multi-apartment buildings, lending and leasing services to specialized contractors engaged in the construction and repair of apartment buildings in Tashkent.
The new Bank will also deal with drawing foreign investments, including loans, as well as technical assistance of international financial institutions in funduing the construction of affordable multi-apartment buildings.
The funding of design and implementation of the projects that envisage quality improvement of engineering infrastructure, lending to producers of up-to-date, efficient, energy-saving and marketable construction materials and equipment is an additional area of activity.
(Source: «Uzbekistan Today» newspaper)