The plenary session, held in the format of a videoconference, is led by the Chairman of the Senate of the Oliy Majlis, Tanzila Narbayeva. You can follow the discussion of issues at the plenary session directly online via the Senate's YouTube channel.

It reviewed the Law "On amendments to the Law of the Republic of Uzbekistan "On Banks and Banking Activities".

It was noted that the Law introduces amendments providing for requirements for a gradual increase in the size of the authorized capital of banks starting from September 1, 2023 to January 1, 2025 from one hundred billion soums to five hundred billion soums.

The introduction of this norm creates the possibility of increasing the level of capitalization and resource base of banks, creating additional legal conditions for attracting foreign investment in the sphere, providing additional loans to the population and business entities.

Also, according to the Law, restrictions on the purchase of bank shares by non-residents are partially lifted. It simplifies the purchase of shares publicly placed on international markets.

The senators noted that the amendments to this Law serve to expand the participation of banks in the processes of structural changes in the economy by increasing their investment attractiveness.

The law was approved by senators.