Uzbekistan Establishes Tashkent Financial Centre Under English Law
President Shavkat Mirziyoyev signed a constitutional law establishing the Tashkent International Financial Centre (TMFC), an economic zone operating exclusively under English common law.
The legislation provides a distinct regulatory environment designed to attract foreign capital by offering an internationally recognised legal framework.
«This is one of the most important economic news items of the year and the result of reforms we have been working towards for almost 10 years,» said Saida Mirziyoyeva, head of the presidential administration.
The designated territory will feature an independent commercial court alongside alternative dispute resolution mechanisms aligned with global standards. This bespoke legal regime aims to guarantee robust institutional protection and predictability for cross-border corporate operations.
Government officials expect the regulatory shift to draw international banks, investment funds, insurance providers and fintech firms to the domestic market. By adopting English jurisprudence, a baseline among leading global financial hubs, the government intends to foster trust among institutional investors and bypass the friction often associated with emerging market legal systems.
Policymakers debated the initiative for several years, viewing it as a central pillar of the nation’s financial sector overhaul. Enshrining the centre’s status through a constitutional law provides a permanent foundation for its operations.
The strategic objective is to elevate Uzbekistan’s sovereign investment profile, stimulate domestic capital markets and position Tashkent as the primary financial hub for Central Asia.
