Shaimerden Chikanayev, Partner of GRATA International took part in the Kazakhstan Legal Forum, 2020
On September 25, 2020 the annual Kazakhstan Legal Forum, organized by Lincoln Company and TheLawyer.KZ, was held.
The Central Bank of Uzbekistan cuts the base rate to 14% per annum
The Chairman of the Central Bank of the Republic of Uzbekistan stated in a press conference that this decision was taken in order to reduce the inflation rate in the economy and to support economic activity during the pandemic.
The Cabinet of Ministers approved the strategy for improving the public finance management system of the Republic of Uzbekistan for 2020-2024
This document was adopted in accordance with the Resolution of the President “On measures to ensure the implementation of the Law of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2020””.
VEB.RF provides financing to Kamaz Asia Leasing in Uzbekistan
State development corporation VEB.RF and leasing company JV LLC Kamaz Asia Leasing have signed a loan agreement for EUR 12,5 million. The agreement provides for financing the purchase of 250 units of vehicle and special equipment of the KAMAZ brand in the Republic of Uzbekistan. The equipment will then be leased to Uzbek companies.
The moratorium on bankruptcy helped the organization get rid of the forfeit
The owner rented out to the organization premises with an area of 1,000 sq. m. on the territory of the shopping center. A lease agreement was concluded between the parties, which provided for two types of rent: constant (for the use of the premises) and variable. The variable part is the payment for utility bills, which must be paid by the tenant no later than the 25th day of the month following the reporting one.
07.09.2020
Once again, we reaffirm that GRATA International is fully committed to operate in Ukraine for a long time. For our international clients and for us this is a strategic market with huge economic potential. Despite the current global crisis caused by the pandemic, this country continues its sustainable course towards positive political and economic reforms.
The Rules for conducting foreign exchange transactions have been approved in the Republic of Uzbekistan
The Resolution of Board of the Central Bank as registered with the Ministry of Justice under No.3281 dated 31 August 2020 approved the Rules for conducting foreign exchange transactions in the Republic of Uzbekistan (the “Rules”). These Rules entered into force on 1 September 2020.
Regulatory legal acts on licensing of banking activities in Uzbekistan have been merged into one document
The Central Bank of the Republic of Uzbekistan has adopted Regulation “On the procedure and conditions for admission to banking activities” No.352 dated 30 June 2020 (the “Regulation No.352” in order to bring the permitting and licensing procedures in the banking sector in compliance with the requirements of the amended Laws “On Central Bank of the Republic of Uzbekistan” and “On banks and banking”. The Regulation No.352 optimizes and merges several regulatory legal acts governing this sphere.
All financial assets must now be accounted for
President Vladimir Putin signed law No. 291-FZ of 31.07.2020, which establishes the obligation of residents to report on the movement of not only cash, but also other financial assets on accounts in foreign banks and other financial market organizations.
President of the National Bank of Georgia Adopted Following Orders
Order # 130/04 on the approval of the rule on Simplified Procedures for the Acquisition of a Significant Share of a Commercial Bank in the Mode of Resolution. Order aims to facilitate the speedy and smooth running of the resolution mode by defining simplified procedures for acquisition of a significant share.
Road map for reducing the share of shadow economy is adopted
On 20 June 2020, there was adopted a Resolution of the Cabinet of Ministers of the Republic of Uzbekistan "On measures for reducing the share of the" shadow economy "in the Republic of Uzbekistan" No.394, according to which the "Road map" was approved.
Asian Development Bank projects slowdown in economic growth of Uzbekistan in 2020
Asian Development Bank (the “ADB”) has reconsidered its economic growth projections for Uzbekistan in 2020 by decreasing the projection from 4,7% to 1,5%. ADB has adjusted and updated the economic growth forecasts due to the pandemic, which has decreased the volume of foreign trade and money transfers. Forecasts of the World Bank and European Bank for Reconstruction and Development regarding Uzbekistan's economic growth for 2020 coincide, amounting to a GDP growth of 1,5%.