Tashkent Stock Exchange to Launch Local Currency Bonds with Support from International Institutions
At the «Capital Market: New Opportunities for Investment» conference in Tashkent, George Paresishvili, Chairman of the Republican Stock Exchange (RSE) «Toshkent», announced new efforts to develop Uzbekistan’s capital market by introducing simplified procedures for issuing bonds in the national currency.
According to Paresishvili, the initiative involves collaboration with major international financial institutions — including the EBRD, IFC, World Bank, and ADB — to launch local currency bonds as a complement to the sovereign bond market.
«There is stable global demand for mortgage-backed bonds. Together with regulators, we are working to enable international financial institutions to issue such instruments in Uzbek soums,» he said.
Major IPOs Ahead
The exchange is also preparing for landmark IPOs under Presidential Decree No. 145. Key companies slated for listing include:
- Navoi Mining and Metallurgical Combinat (NMMC)
- Uzbekistan’s National Investment Fund
These offerings are expected to feature dual listings — on both the Tashkent Stock Exchange and international markets via depository receipts — to give investors flexibility in where they invest.
The exchange is working with the Ministry of Economy and Finance, financial regulators, and legal consultants to introduce a comprehensive legal reform package in support of these goals.
Broader Conference Agenda
The capital market conference features four thematic sessions:
- How to Go Public and Attract Investors
- Shifting Investor Focus in Uzbekistan
- New Investment Instruments: Uzbekistan’s Bond Market
- Where Money Works: Alternative Investment Paths
The event is supported by TBC Bank, Payme, the National Association of Investment Institutions, and Universal Bank. Speakers include officials from the government, private sector, and international finance.
Kursiv Uzbekistan also reports on critical role of bonds in Uzbekistan’s financial development and the challenges holding back their growth
