On Thursday, August 29, the Central Bank updated the prices for gold bars and commemorative coins. The price of one gram of the precious metal reached 1,061,660 UZS, rising by 0.8% in a single day. A 5-gram gold bar is now valued at 5.266 million UZS. Over the past month, gold prices have set new records five…
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In surveys conducted among entrepreneurs, 38 percent expressed a desire to obtain resources based on Islamic finance principles. This was revealed during a public dialogue with entrepreneurs, where President Shavkat Mirziyoyev also mentioned that last month, microfinance institutions were authorized to provide services based on Islamic terms. “If the prepared draft law is adopted, banks…
The Competition Promotion and Consumer Protection Committee has initiated a case against “Uzbekneftegaz,” according to a statement from the committee’s press secretary, Otabek Usmanov. The capital’s branch of the committee reviewed two tenders by the state company on the government procurement portal, each for 4.8 billion UZS. The committee found violations by “Uzbekneftegaz” of Article 29 of…
President Shavkat Mirziyoyev announced that a new draft law on Islamic finance has been prepared. Once adopted, this law will allow banks to operate using Islamic finance principles, potentially leading to an additional $5 billion in resources. Photo: Presidential press service In surveys conducted among entrepreneurs, 38 percent expressed a desire to obtain resources based…
Wind power plants and industrial units projects were launched and shopping malls were inaugurated in Karakalpakstan. The launch ceremony was attended by President of Uzbekistan Shavkat Mirziyoyev, the presidential press service said. In recent years, 10 solar and wind power plants with a total capacity of 2.6 GW have been commissioned through $2 billion in…