OREANDA-NEWS. January 14, 2010. Alokabank open joint-stock commercial bank is preparing to issue the 14th emission of deposit certificate for legal entities at a total sum of 50 billion soums. The term of emitted securities floatation is from 6 months to 3 years.

It should be reminded that issue of long-term bonds by commercial banks is envisaged by the presidential resolution "On additional measures to stimulate increase of the share of long-term credits of commercial banks directed on financing investment projects".

The document was adopted to stimulate expansion of investment activity of commercial banks, strengthening their resource base to increase volumes of financing long-term capital investment projects directed on modernization, technical and technological re-equipment of economy industries. Local banks will issue corporate bonds in the volume not less than 110 billion soums in 2009-2010.

Besides, in line with the President's resolution, legal entities are exempted for the period of 5 years from taxation of incomes received from floatation on deposits and commercial banks' debt securities for more than 1 year.