Uzbekistan is interested in expanding access to global stock markets

On 6 December this year in the Ministry of Investment, Industry and Trade with the support of the Direct Investment Fund of the Republic of Uzbekistan (UzDIF), a group of experts from Citibank (USA) held a training to improve the qualifications of domestic specialists to work in international financial markets.

The training was attended by heads of large companies, stock market participants, representatives of relevant ministries, departments and commercial banks.

The agenda of the seminar included key issues faced by both newcomers and experienced participants of stock trading, namely: organisation of debt (DCM) and equity (ECM) instruments issue, including initial public offering, issue of depositary receipts (DR) as instruments of securities circulation on foreign stock exchanges, as well as legal peculiarities of securities issue.

Background: Citibank, the largest international bank founded in 1812, is a division of Citigroup, a giant international financial services corporation. Since March 2007, it has been recognised as the largest US bank among holding companies. It operates in more than 100 countries around the world.

The training was organised as part of the implementation of the tasks set as a result of the summit visit to the United States of America in September of this year. During working meetings with Citibank representatives held on the margins of the visit, agreements were reached on expansion of mutually beneficial cooperation in the development of banking and financial sector, introduction of effective tools to increase attractiveness and liquidity of securities on the stock market, as well as attracting foreign investors to the capital market of Uzbekistan.

Managing directors of Citibank, including Kayhan Kopmaz and Armin Lindtner, spoke at the training and shared with the participants innovative methods of working in international financial markets.