OREANDA-NEWS. On March 30, 2009 President of Uzbekistan Islam Karimov signed a resolution on transforming one of the country’s largest banks Pakhta-bank into Agrobank, reported the Official website www.gov.uz.

The new bank, to be created in the form of the open joint-stock company, will be the rights holder of Pakhta-bank on property, finance and other obligations, as well as requirements guaranteeing the safety and timeliness of return of the funds of the legal entities and individuals.

The Ministry of foreign economic relations, investments and trade jointly with the Finance ministry and the Central bank have been entrusted with providing assistance to Agrobank in attracting preferential credits, investments and grants of the international financial institutions and the foreign financial and credit structures to strengthen the bank’s resource base.

The Cabinet of ministers has to approve the structure of the Agrboank board in the two-weeks period.