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Since January 1, in Moldova, cash payments between enterprises are allowed only within the limits of 100 thousand lei per month
At the same time, the size of one transaction between economic entities cannot exceed 10 thousand lei. The corresponding changes in the legislation came into force on January 1, 2021. To enterprises, institutions and organizations, regardless of their type of ownership and legal form, making payments for their financial obligations in cash, including through a cash payment terminal (cash-in terminal), in an amount exceeding the monthly limit of 100 thousand lei, sanctions will be applied.
The NCFM suspended the activities of 5 non-bank credit organizations
The Administrative Council of the National Commission on the Financial Market suspended for three years the activities of non-bank credit institutions Credit Market, Microcapital, E-Cash and Rosst-X on the basis of decisions of the general meetings of shareholders of these organizations, as well as non-bank credit organization Realty Capital - in accordance with the decision of the only associated person of this non-bank credit organization.
Fitch assigned 'BB-' final rating to Ipoteka-Bank's debut Eurobonds in Uzbekistan
Fitch Ratings assigned Ipoteka-Bank's debut Eurobond issue of USD 300 million with a 5.5% interest rate maturing in 2025 with a final rating of 'BB-'. Ipoteka-Bank uses proceeds from the issue mainly for lending in foreign currency to local borrowers in Uzbekistan.
S&P Global Ratings assigns rating to Uzbekistan at BB- /B
S&P Global Ratings has affirmed the Republic of Uzbekistan's long-term and short-term sovereign credit ratings for foreign and national currency liabilities at the BB-/B level. The rating outlook remains Negative.
Governmental officials in Uzbekistan will be assessed using the KPI system
According to the Resolution of the Presidential of the Republic of Uzbekistan dated 24 August 2020, officials will be assessed according to KPI performance indicators during the implementing investment projects and optimizing imports. In particular, the Resolution stated to ensure within a month the approval of specific indicators for assessing the effectiveness of measures (KPI) taken by the heads of ministries, departments, regions and enterprises on the effective implementation of investment projects and optimization of imports, with quarterly submission of information to the Cabinet of Ministers on the achievement of indicators for each official.
The Cabinet of Ministers approved the strategy for improving the public finance management system of the Republic of Uzbekistan for 2020-2024
This document was adopted in accordance with the Resolution of the President “On measures to ensure the implementation of the Law of the Republic of Uzbekistan “On the State Budget of the Republic of Uzbekistan for 2020””.
VEB.RF provides financing to Kamaz Asia Leasing in Uzbekistan
State development corporation VEB.RF and leasing company JV LLC Kamaz Asia Leasing have signed a loan agreement for EUR 12,5 million. The agreement provides for financing the purchase of 250 units of vehicle and special equipment of the KAMAZ brand in the Republic of Uzbekistan. The equipment will then be leased to Uzbek companies.
The Rules for conducting foreign exchange transactions have been approved in the Republic of Uzbekistan
The Resolution of Board of the Central Bank as registered with the Ministry of Justice under No.3281 dated 31 August 2020 approved the Rules for conducting foreign exchange transactions in the Republic of Uzbekistan (the “Rules”). These Rules entered into force on 1 September 2020.
All financial assets must now be accounted for
President Vladimir Putin signed law No. 291-FZ of 31.07.2020, which establishes the obligation of residents to report on the movement of not only cash, but also other financial assets on accounts in foreign banks and other financial market organizations.
Overview of the legislation of the Republic of Belarus
In accordance with this act, the BelCCI is granted the right to register, change data, and revoke registration in the REX system. As a result of its implementation, the exporter will receive a unique registration number by which it will be possible to check the validity of the registration, the date of its receipt and other information subject to the exporter's permission.
The Head of the Financial Monitoring Service adopted the Order #2 on Approval of the Procedure of Identification and Verification of a Customer by the Accountable Enterprise
The Head of the Financial Monitoring Service adopted the Order #2 on Approval of the Procedure of Identification and Verification of a Customer by the Accountable Enterprise and the Order #1 on Approval of the Rule on Record-keeping, Storage and Reporting of the Information on the Transaction by the Accountable Enterprise to the Financial Monitoring Service of Georgia
Parliament of Georgia adopted the law on changes to the Law on Securities Market
On 29 June 2020, Changes to the Law on Securities Market was published on the website of the Legislative Herald of Georgia.