Law of the Republic of Azerbaijan “on Insurance activity”
Pursuant to the newly introduced changes in the Law of the Republic of Azerbaijan on “Insurance activity” (Insurance Law), a new article was added to the Civil Code of the Republic of Azerbaijan (Civil Code).
On the implementation of virtual
cash register
In order to improve the online cash register, the Law of the Kyrgyz Republic No. 39 of April 13, 2018 introduced a change to the Tax Code of the Kyrgyz Republic in terms of the definition of a "virtual cash register ", which provides for the use of smartphones or computers along with the hardware cash register after the installation of the relevant software.
The control and monitoring system for
the implementation of investment
projects is started in Uzbekistan
The Regulation of organization the implementation and operation of the Automated Information System “Control and Monitoring the Implementation of Investment Projects” was approved in accordance with the Resolution of the Cabinet of Ministers dated July 22, 2019 No. 616 “On organizational measures for the implementation and operation of the information system in the field of monitoring and monitoring the implementation of investment projects”.
Regulatory developments in the
legislation of the Republic of
Uzbekistan
Since July 1, 2019, changes came into force that will affect customs regulation, licensing, public procurement, investor relations, corruption risk assessment and many different sectors.
The Central Bank keeps the
refinancing rate at 16% per annum
By decision from 20 July 2019, the Board of the Central Bank kept the refinancing rate unchanged at 16% per annum.
Uzbekistan ‘BB-’ Long-Term and
‘B’ Short-Term Ratings Affirmed
S&P Global affirmed ‘BB-’ long-term and ‘B’ short-term ratings of Uzbekistan.
Nurlan Kyshtobaev took part in the signing of agreements between
EBRD and Optima Bank
On 21 May 2019, the European Bank for Reconstruction and Development and Optima Bank signed risk participation agreements in the aggregate amount up to USD 20 million. According to these agreements, EBRD will share the risks of up to 50 percent for some loans issued by Optima Bank. Borrowers under the agreements will also have the opportunity to use various technical cooperation programs to familiarise themselves with the best practices of international and local experts.
All projects involving foreign
direct investment would be
divided into four lists
The head of state proposed to introduce a new system of control to ensure timely realization of investments. In accordance with it, all projects involving foreign direct investment would be divided into four lists to be monitored separately.
Shaimerden Chikanayev spoke at China Global Investment Summit 2019
China Global Investment Summit 2019 (China Global Investment Summit 2019) was held on April 18-19, 2019 in Shanghai, China. One of the speakers was Shaimerden Chikanayev, Partner, Director of Banking & Finance Department, GRATA International.
Amendments have been
introduced to regulations and
legislative acts of KR on
investment funds activity
On April 1, 2019, the President of the Kyrgyz Republic Sooronbay Jeenbekov signed the Law of the Kyrgyz Republic “On Amendments to Certain Legislative Acts on the Issues of Investment Funds Activities”.
15.04.2019
Legal 500 has recently released its annual rankings of international law firms – Legal 500 EMEA 2019.