of January 15, 1999 No. 24
About measures for further reforming of bank system
In pursuance of the Presidential decree of the Republic of Uzbekistan of October 2, 1998 UP-2084 "About Measures for Enhancement of Activities of Joint Stock Banks" and for the purpose of increase in banking system stability, mobilization of resources of banks, expansions of participation of banks in crediting of economy, and also development of competitive environment in the field of banking services the Cabinet of Ministers decides:
1. Excluded
2. Take into consideration that at general shareholder meetings 16 of joint stock banks decisions on attraction of additional resources for increase in the authorized capital at total amount of 15 billion sum are made.
Determine that increase in amount of the authorized capital of banks is made first of all due to attraction of financial resources of foreign investors, and also available funds of shareholders of banks.
Recommend to commercial banks to complete forming of the announced authorized capital till January 1, 2000.
3. Determine that:
the share of one shareholder or group of the interconnected shareholders (except for shares of the state) in the authorized capital of bank cannot exceed 25 percent from the general size of the authorized capital. This regulation does not extend to private banks and banks with participation of the foreign capital;
since January 1, 1999 participation of bank in the authorized capital of again registered banks, except as specified creations of banks with participation of the foreign capital and subsidiary banks is not allowed. To commercial banks till January 1, 2001 to realize the blocks of shares belonging to them in the authorized capital of the operating banks.
4. To the State Property Committee and Ministry of Finance of the Republic of Uzbekistan jointly:
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.