The government of Uzbekistan has reduced the value-added tax (VAT) to 12%. The new rule entered into force on January 1, 2023. The authorities expect that the move will help reduce the shadow economy, stimulate business activity in the country and increase public revenues. After reducing the VAT to 12%,…
Mikhail Lomtadze, CEO and co-founder of Kaspi has bought two million shares of the company from another stockholder Vyacheslav Kim. As a result, Lomtadze is the second largest stockholder after Baring Vostok, according to the company’s data from January 1, 2023. According to KASE, Lomtadze’s share in Kaspi increased from…
OTP Group, the leading financial organization in Hungary, has finally signed a purchase agreement with Uzbekistan’s Ipoteka-Bank. A long-awaited deal Even though the deal between Ipoteka-Bank and OTP Group was expected to be closed within two months, it took almost a year because of the Russian invasion of Ukraine. OTP’s…
The U.S. Office of Foreign Assets Control doesn’t mind if individuals who left Russia for Kazakhstan are using Russian payment cards Mir in their daily life, according to the Agency for Regulating and Development of the Financial Market in Kazakhstan. «Kazakhstan’s commercial banks can accept any payments and money transfers…
The holding is going to complete the deal with the acquisition of Sber subsidiary in Kazakhstan
More than $147.5 million will be allocated by the development bank through lending facilities
Foreign banks have frozen $21.3 million from three banks in Kazakhstan due to sanction requirements
The potential buyers are top executives of the bank and PPF investment group from the Czech Republic
In January 2022 the US dollar become a bit cheaper in Uzbekistan and more expensive in Kazakhstan and Turkmenistan. In Kyrgyzstan and Tajikistan, there were no changes in the exchange rates.
