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Thursday, September 21, 2017

Uzbek Republic bonds valid for payment

The Ministry of Finance of Uzbekistan and the People's Bank of Uzbekistan recently announced that bonds issued by the Uzbek Republic in 1992 are to be presented for payment between April 1 and July 1.

The 12 percent bonds were issued in accordance with the Cabinet of Ministers' Resolution dated April 6, 1992.

"In pursuance of the Cabinet of Ministers' Resolution dated March 5 of this year, 'On measures to arrange the receipt and redemption of the bonds of the Uzbek Republican 12-percent premium loan of 1992,' and for unconditional fulfillment of obligations previously undertaken by the state, for safeguarding citizens' savings and strengthening the trust of the population, from April 1 to July 1, 2014, the People's Bank's authorized offices will start to accept the bonds with the opening of accounts on the bond holder's name and further issuance of certificates," the Central Bank of the Republic of Uzbekistan said.

The funds on bonds, subject to indexation, will be paid between August 1 and November 30.

Bonds not presented in time will be considered invalid and will not be subject to acceptance and maturity, the bank said.