In accordance with a decision by the National Agency for Prospective Projects of the Republic of Uzbekistan (NAPP), JSCB 'Kapitalbank' and LLC 'Kapital Securities' have joined the special legal regime 'Regulatory Sandbox' in the capital market sector of Uzbekistan as the first participants in the area of issuance and circulation of bonds denominated in foreign currency.

This initiative is implemented under the special legal regime, which for the first time provides for testing and practical application of mechanisms for issuing and circulating foreign currency bonds. The goal is to improve financing tools in Uzbekistan's capital market, expand investment opportunities, and increase financial market liquidity.

Within the framework of the special legal regime, Kapitalbank and Kapital Securities are considering implementing projects related to the issuance of foreign currency bonds in Uzbekistan. This will allow them to practically test approaches to their issuance and circulation, and formulate proposals for further improvement of regulation and development of capital market infrastructure, taking into account international practice and market participants' needs.

Georgiy Paresishvili, Director of Kapital Securities, noted: 'Participation in the special legal regime will allow us to develop new mechanisms for attracting debt financing for Uzbek companies through the capital market, as well as create additional opportunities for expanding investment instruments and increasing liquidity of the local securities market. We expect that the implementation of these mechanisms will help attract a new category of local and foreign investors ready to invest financial resources in foreign currency into the country's economy, as well as further develop the capital market infrastructure of the Republic of Uzbekistan.'

Source: uznews.uz