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Finance 03/06/2010 Khalq Bank issues deposit certificates for 10bn soums
Khalq Bank issues deposit certificates for 10bn soums
Tashkent, Uzbekistan (UzDaily.com) -- State commercial Khalq Bank (People’s Bank) issued deposit certificates for individuals for 10 billion soums.

The decision on emission of deposit certificates for individuals was adopted at the session of the Board of the Bank on 14 April 2010.

The deposit certificates for individuals is aimed at boosting participation of the banks in securities market and strengthening of resource base, as well as financing of small and private businesses in Uzbekistan.

On 4 May 2010, the Central Bank of Uzbekistan registered emission of certificates. The par value of certificate is 5,000 soums. The maturity term is a year and interest rate set at 14% APR.

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