Amendments to the Law on Banks and Banking Activities were revieweedd at the plenary session of the Senate. The Amendments provide for increase the amount of authorized capital of banks gradually from 100 billion soums to 500 billion soums, from US$ 8.8 million to 44 million from September 1, 2023 to January 1, 2025.
As per the amendments, restrictions on the purchase of bank shares by non-residents are to be partially scrapped. Buying publicly traded shares on international markets could become easier.
The amendments were approved by senators.
