Tashkent financial centre to offer multi-currency trading and zero tax
The Tashkent International Financial Centre (TIFC) will allow transactions in any global currency and implement a zero-tax regime for foreign participants as part of Uzbekistan’s push to become a regional technology hub.
Nodirjon Juraev, a project coordinator for the Presidential Administration, announced the regulatory framework Monday at the opening of the Silk Road Finance & Technology Forum in the capital.
By permitting operations in foreign national currencies, the centre aims to attract correspondent banks from major Asian markets, including China, Singapore and Japan. Juraev noted these institutions will be able to conduct business directly in their native currencies without regional conversion hurdles.
The TIFC’s legal foundation will also formally recognise cryptocurrency as a legitimate medium of exchange. While foreign entities operating within the hub will benefit from complete tax exemptions, they will remain subject to strict anti-money laundering compliance requirements.
Driving regional fintech innovation
The financial zone represents a core component of Uzbekistan’s broader digital economic strategy. During the three-day forum, jointly organised by the Central Bank of Uzbekistan and the Global Finance & Technology Network, officials detailed plans to secure $1bn in foreign fintech investment by 2030.
To support this ambitious target, the Central Bank is launching an Innovation Hub alongside specialised testing environments, including Regulatory Sandbox 2.0 and the QFinex Quantum Test Bed. These platforms will safely accelerate the development of emerging financial products.
The ongoing conference is focusing on modernising regional financial infrastructure through panel discussions on open banking, digital assets, stablecoins, cross-border payments and Islamic finance.
