Home
/
News
/
Through banks investments production activities have been restored on 156 bankrupt enterprises

Through banks investments production activities have been restored on 156 bankrupt enterprises

04.10.2013
UzReport  02.10.2013

     Tashkent hosted a press conference on "The program of anti-crisis measures. The role of commercial banks to improve the health of bankrupt enterprises" organized by the Central Bank of the Republic of Uzbekistan.
     During the event, it was noted that the global financial and economic crisis that began five years ago, caused serious damage to the economies of several countries and to the activities of large multinational companies and financial institutions. Its effects have led to an increase in the number of unemployed and lowering of population incomes. At the same time, program of anti-crisis measures developed by the leadership of Uzbekistan, has a not only mitigated the impact of the global financial crisis, but also ensured the consistent development of the national economy and improved its stability.
     Under this program, domestic commercial banks pay special attention to the timely adoption of the necessary measures for the financial support of the real sector of the economy, especially to financing of projects aimed at enhancing the processes of modernization, technical and technological re-equipment, provided the sharp decline in production costs, rationalization of technological processes, reducing the use of raw materials, electricity, energy and others in production of processes. Banks also generate loans for businesses and investment projects, including those on a preferential basis.
     Thus, significant investment and loans from commercial banks have been directed at improving the financial stability of the real sector of the economy, improving the mechanisms of financial recovery and management of insolvent enterprises, modernization, technical and technological re-equipment of production processes.
     It should be noted that the experience of involvement of commercial banks in the processes of financial rehabilitation of insolvent companies has fully justified itself. Increased use of financial and organizational capacities of commercial banks in the rehabilitation of insolvent companies is an innovative approach that has no analogues in the world. Under this scheme, commercial banks acquire the property of bankrupt manufacturing companies at auction and through bidding. Thus they take investment commitments for financial recovery and restoration of bankrupt enterprises, their technical and technological modernization and upgrading, manufacture of competitive products for domestic and foreign markets. Afterwards banks sell these companies to strategic investors at a market value.
     The mechanism of the rehabilitation of insolvent companies envisages, along with the manufacture of new products, the introduction of modern management methods and creation of new jobs. The latter fulfills an important social and economic problem.
     As of September 1, 2013 commercial banks have received 171 bankrupt enterprises on their balance. These are mainly enterprises that have amounts payable of 70 percent or more, consisting of outstanding bank loans with estimated cost of at least $ 2 million and the capacity of creating more than 100 new jobs. These companies also need to be considered important by the government and are able to manufacture competitive products in domestic and international markets.
     For their modernization, technical and technological re-equipment, banks have invested around 442.6 billion soums.
     Through bank investments 156 companies restored manufacturing activity, over 25 thousand jobs were created. Until today, 122 of these enterprises have been sold to strategic investors.
     It should be noted that, much of the credit belongs to the managing companies and individual business units established under large commercial banks to effectively manage the assets of the transformed enterprises. For example, these management companies are the NBU Investment, NBU Invest Group, Asaka Investments, Agroinvest Recovery and PSB Industrial Investments. These companies have gained considerable experience in organization of production and management, market research, effective use of pawned property, project investment and servicing of investment loans, business plan development, job creation and manufacture of new competitive products.
     It should also be noted that for the success of the recovered companies the Government tax and customs preferences are of great importance. The enterprises created by banks, including with participation of other investors, are exempt from paying income tax, single tax, property tax and land tax for three years till it is sold to a strategic investor.
     At present, 49 enterprises are on the balance of commercial banks, 34 of them have established high-tech production lines and are put on sale for new investors. On the remaining 15, production lines are being restored and construction and installation work are being carried out.
     Commercial banks of Uzbekistan will continue to actively participate in the structural reform of the national economy, modernization, technological renewal of production, financial support of insolvent and low-profit enterprises.
 

NBU technical support

online

Message sent

Please wait

Return to the list of topics



How useful was the answer?

NBU support service

I am your virtual assistant.

NBU support service

Choose the topic of interest

7.1. Plastic card of legal entity and individual entrepreneur (corporate card) in national currency

7.1.1 Issue of 3-year main/ additional card

80,000 UZS, including VAT

7.1.2 Extension of the validity of main/ additional card

80,000 UZS, including VAT

7.1.3 Reissue of main/ additional card in case of loss/ damage

80,000 UZS, including VAT

7.1.4 Reissue of main /additional card in case of technical malfunction

no commission fee

7.1.5 Penalty for loss/damage of main/ additional card

80,000 UZS, including VAT

7.1.6 Balance replenishment on the special Uzbek Soum card account of legal entity/individual entrepreneur (according to the applicable legislation)

0.5% of the amount transferred

7.1.7 Submission of the statement on money accounting on the corporate card

50,000 UZS, including VAT

7.1.8 Card registration in the stop list

no commission fee

7.1.9 Leasing of payment terminals to trade and service enterprises for accepting payment from UZCARD plastic cards and International payment cards, including:

a) to legal entities

25,000 UZS + VAT (charged monthly, on the first business day of the month following the month of the transaction)

b) to individual entrepreneurs

15,000 UZS + VAT (charged monthly, on the first business day of the month following the month of the transaction)

c) to Home Unit Companies

25,000 UZS + VAT (charged monthly, on the first business day of the month following the month of the transaction)

7.1.10 Processing of HUMO payment cards transactions of trade and service enterprise (acquiring)

0.2% of the transaction amount

7.2 Bank card of legal entity and individual entrepreneur in foreign currency (international)

7.2.1 Issue (emission) of main / additional card

a) Visa Business

UZS 230,000, including VAT

- minimum balance and down payment (unchanged until the card account is closed)

USD 100

b) Visa Business to an individual entrepreneur

UZS 170,000, including VAT

- minimum balance and down payment (unchanged until the card account is closed)

USD 100

c) Masterсard Business

UZS 1,200,000, including VAT

: For MasterCard, if the card currency differs from the transaction currency, the amount of 2% will be temporarily blocked

7.2.2 Reissue of main / additional card (after expiration of the card, to change the client's name, in case of card loss/damage, password loss, suspicion of fraud):

a) Visa Business

UZS 230,000, including VAT

b) Visa Business to an individual entrepreneur

UZS 170,000, including VAT

c) Masterсard Business

UZS 600,000, including VAT

7.2.3 Penalty for loss / damage of main / additional card, and for the card non-return by the client to the bank, including when applying for closing the special card account:

a) Visa Business

UZS 230,000, including VAT

b) Visa Business to an individual entrepreneur

UZS 170,000, including VAT

c) Masterсard Business

UZS 600,000, including VAT

7.2.4 The processing of transactions on cash receipt at terminals or ATMs abroad the Republic of Uzbekistan from the card issued by the National Bank

1% of the amount

7.2.5 Processing of transactions on non-cash payment for goods and services in the infrastructure of another bank (terminal/imprinter/ATM/self-service terminal/Internet, etc.) from the card issued by the National Bank:

a) Visa Business

no commission fee

b) Visa Business to an individual entrepreneur

no commission fee

c) Masterсard Business

No commission fee

Note: For MasterCard, if the card currency differs from the transaction currency, the amount of 2% will be temporarily blocked

7.2.6 Registration of the card in the Global stop list upon the Client's request

no commission fee

7.2.7 Reimbursement of expenses for the withholding by another bank of the card issued by the National Bank

1,15 Basic Estimated Amount, including VAT

7.2.8 Reimbursement of expenses for the transfer by the acquiring bank of the withheld card issued by the National Bank

Postal and telegraph expenses

7.2.9 Submission of an international card account statement on the official letterhead of the Bank

UZS 60,000, including VAT

7.3 For trade and service companies serving clients with cards in foreign currency

7.3.1 Processing of transactions of retailer and service outlet using international cards (VISA, MasterCard, UnionPay International, etc.):

a) Through a POS terminal in a trade and service enterprise and an EPOS terminal (according to an e-commerce project): - for cards issued by NBU JSC;
- for cards issued by other banks of Uzbekistan;
- for cards issued by foreign banks

1% of the transaction amount on the day of receiving coverage from international payment systems;
1.5% of the transaction amount on the day of receiving coverage from international payment systems;
3% of the transaction amount on the day of receiving coverage from international payment systems

b) Via a POS terminal installed in hotels

2.5% of the transaction amount on the day of receiving coverage from international payment systems

7.3.2 Penalty for the recovery of information on transactions against supporting documents submitted by the trade and service company

1% of the transaction amount

7.3.3 Penalty for loss and/or damage of payment terminal which can not be repaired

Actual cost of the terminal + 1,15 Basic Estimated Amount, including VAT

7.3.4 Processing (acquiring) of transactions of trade and service enterprises using HUMO/UZCARD payment system

a) On international cards through the payment system "UzCard"

0,2% of the transaction amount

b) VISA, MasterCard and UPI international cards, through HUMO payment system. When servicing international cards (VISA and MasterCard), a commission of 1.5% is charged from the card account in addition to the commission fee specified in this section. Visa cards issued in the Republic of Uzbekistan are the exception.

1% of the transaction amount. When servicing international cards (VISA and MasterCard), a commission of 1.5% is charged from the card account in addition to the commission fee specified in this section. Visa cards issued in the Republic of Uzbekistan are the exception.

c) VISA, MasterCard and UPI international cards, through UzCard payment system. When servicing international cards (VISA and MasterCard), a commission of 2% is charged from the card account in addition to the commission fee specified in this section. Visa cards issued in the Republic of Uzbekistan are the exception.

1% of the transaction amount

d) MIR international cards, through UzCard payment system

0.5% of the transaction amount

e) For payment transactions for products, works and services at trade enterprises using ‘Tez QR’ through ‘UZCARD’ payment system
Effective from May 1, 2024.

1% of amount

7.3.5 Processing transactions of a merchant conducted through the NBU's E-POS terminal*

a) By UzCard Sumy Plastic Cards

0,8% of the transaction amount

b) By HUMO / Visa UZS plastic card / UZS electronic wallet

0,5% of the transaction amount

7.3.6 The processing of transactions of retailer and service outlet via QR-Online system

0,15% of the transaction amount

*When the retail and service outlet pays for this service, the commission specified in subparagraph 5.1.12 of section 5 “Remote Services” of the tariff for commission fee for individuals is not charged to the client

7.3.7 Processing of transactions of the trade and service enterprise carried out on local cards (UzCard, HUMO, etc.), according to the e-commerce project

at least 1% of the transaction amount

7.3.8 Connection (registration) to the fiscal module and servicing online cash registers

1% of the amount

7.3.9 Monthly rent for commercial terminals of small business entities (with a monthly turnover of more than 100 000 UZS)

fee is not charged

7.3.10 Monthly rent for trading terminals of small business entities (with a monthly turnover of less than 100 000 UZS)
Terminals inactive for 6 months are withdrawn from the client

15% BEA, including VAT

Tariffing begins on June 10, 2024.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.

1.To open an account and other products, visit the NBU branch. Please find a list of all branches and their addresses Here.

2. Reserve an account Here.