OREANDA-NEWS. January 11, 2011. In accordance with the Resolution of the President of Uzbekistan No.PP-1317 "On measures for further increase of financial stability and investment activity of banking system" dated 6 April 2010, the following requirements to charter funds of newly established banks come into force starting 1 January 2011:

For commercial banks – up to 10 million Euro in soums equivalent;

For private banks – up to 5 million Euro in soums equivalent.

To be noted, the mentioned Resolution was adopted to foster financial stability of banking system, ensure increase of commercial banks capitalization, stirring up their investment activity and increase the volume of crediting aimed at implementation of strategically important investment projects on modernization, technical and technological production reequipment, structural changes in economy due to internal resources as well as attraction of free funds of the population and economic entities to long term deposits.