Belarusian refinancing rate continues to decrease
On June 21, 2023, the Board of the National Bank of Belarus decided to decrease the refinancing rate from 9,75% to 9,5% per annum (p.a.). We remind you that in March 2023 the rate was 11% p.a. and has been decreasing monthly since.
The procedure for licensing the activities of payment system operators and payment organizations has been approved in Uzbekistan
The Central Bank of the Republic of Uzbekistan adopted the Resolution “On approval of the regulation on the procedure for licensing the activities of payment system operators and payment organizations” reg. No. 3431 dated May 5, 2023 (the “Resolution No. 3431”).
09.06.2023
On June 8-9, the Astana International Forum took place in Astana. The two-day event brought together the representatives from different countries, among which high-level delegates from foreign governments, international organizations (WTO, UNESCO, IMF, etc.), businesses who are working to find solutions to global challenges and promote peace and dialogue to maintain development and progress.
The President of Turkmenistan signed the Decree on the development of the State Budget for 2024
On May 15, 2023 with a view of timely preparation of projects of the State budget for 2024, the basic directions of social and economic development and the investment program of the country
The Banking and Finance team of GRATA International advised the EBRD on four risk-sharing framework deals
Marina Kahiani, Partner of the Banking and Finance team and Zarina Kabashova, Associate advised the European Bank for Reconstruction and Development (EBRD) on four risk-sharing framework deals in 2023. The signing took place at EBRD's annual meeting on 17 May 2023 in Samarkand.
24.05.2023
From May 16th to 18th, the city of Samarkand hosted the annual meeting and business forum of the European Bank for Reconstruction and Development (EBRD), attracting representatives from various countries. The main objective of the event was to engage in discussions on critical matters related to economic development and investments.
GRATA International is participating at the EBRD Annual Meeting & Business Forum in Uzbekistan
On May 16-18, 2022, the EBRD Annual Meeting & Business Forum will be held in Samarkand, Uzbekistan.
Uzbekistan introduces changes to consumer credit procedures
The Law of the Republic of Uzbekistan “On the amendment to Article 15 of the Law of the Republic of Uzbekistan “On Consumer Credit” in connection with the improvement of the system for providing financial consumer credit” No. ЗРУ-828 dated April 10, 2023 (the “Law No. ЗРУ-828”) introduced changes to the features of using financial consumer credit.
The Business Forum focusing on investment opportunities in Kazakhstan took place in Hong Kong
April 21, 2023, the Consulate General of the Republic of Kazakhstan in Hong Kong and Macao SAR’s, PRC in conjunction with the China Hong Kong International Business Association, arranged a business forum in Hong Kong for the first time in the last 6 years.
12.04.2023
On April 12, 2023, Legal 500, a global legal directory, released its rankings of leading law firms and lawyers in Europe, Middle East and Africa - Legal 500 EMEA 2023. The rankings reveal that GRATA International has maintained its success from the previous year, with strong rankings in Azerbaijan, Georgia, Kazakhstan, Tajikistan and Uzbekistan.
The President of the Republic of Uzbekistan has approved a differentiated business support system
In order to reduce the economic gap between administrative-territorial units, as well as introduce radically new approaches to the development of districts and cities, improve the business environment, the President of the Republic of Uzbekistan signed a Decree "On measures to divide the territories of the republic into categories and introduce a differentiated business support system"
On changes in bankruptcy law
On December 13, 2022, a new law on insolvency settlement was signed in Belarus, which will come into force on October 1, 2023. It will regulate the procedure for declaring companies bankrupt or insolvent. Currently, a law of 13.07.2012 "On economic insolvency (bankruptcy)" is in force in Belarus.