Tashkent, Uzbekistan (UzDaily.com) — On 17 April, President of Uzbekistan Shavkat Mirziyoyev signed a law that expands the powers of the National Agency for Perspective Projects (NAPP).

Under the amendments, NAPP is officially authorized as the regulatory body for capital markets and insurance services. Additionally, NAPP will now have the authority to organize lotteries.

The law also classifies bookmaker activities, lottery operations, and online gambling as activities requiring licensing.

Furthermore, the document includes amendments to the Law on Insurance Activities, establishing requirements for the business reputation of insurance company executives and their owners.

It should be noted that in April 2024, the president signed a decree legalizing gambling and bookmaker activities. NAPP explained the need for the reform by stating that the previous bans had proven ineffective, leading to a drain of foreign currency abroad, an increase in gambling addiction, and a rise in fraud.

In December, the Cabinet of Ministers approved regulations that set out requirements for organizers of gambling and betting operations. These regulations include minimum charter capital, reserve fund size, player registration procedures, and other conditions.

NAPP has been granted the authority to issue licenses for bookmaker and online casino activities for a period of five years. The license fee is set at 500 base calculated units (187.5 million soums), with a fee of 250 base calculated units (93.75 million soums) for amendments to the license.

In January, the Legislative Chamber of the Oliy Majlis approved a draft law that establishes licensing rules for bookmakers and gambling operators and defines restrictions on participation for certain categories of citizens.

Alisher Kadirov, head of the "Milliy Tiklanish" faction, noted that the party supported the initiative solely due to the recognition of the ineffectiveness of the previous restrictive measures.