Raiffeisen Bank Enters Uzbekistan: Austrian Giant Opens Path for Global Capital to Sum Bonds
Economy
Uzbekistan’s stock market is entering a qualitatively new stage of integration into the global financial system. The major Austrian banking group, Raiffeisen Bank International (RBI), has opened accounts with the Central Bank and the Central Securities Depository of the Republic, acting as a "gateway" for foreign investment into national assets.
This strategic move provides international investors with direct access to Uzbekistan’s secondary market for government and corporate securities. Earlier, on April 22, RBI signed an agreement with the Central Depository to simplify cross-border transactions and settlements for sum-denominated bonds. Holding accounts in both national and foreign currencies at the Central Bank of Uzbekistan will ensure liquidity and transparency for all transactions.
The regulator emphasizes that the entry of a player like Raiffeisen serves as a positive signal for other global custodial banks and funds, including BlackRock and Franklin Resources. The partnership is expected to help establish a market yield curve for bonds, expand access to long-term financial resources, and improve the efficiency of the country's monetary policy. Collaborative efforts will also focus on implementing international standards for the custody and servicing of securities within Uzbekistan.
The regulator emphasizes that the entry of a player like Raiffeisen serves as a positive signal for other global custodial banks and funds, including BlackRock and Franklin Resources. The partnership is expected to help establish a market yield curve for bonds, expand access to long-term financial resources, and improve the efficiency of the country's monetary policy. Collaborative efforts will also focus on implementing international standards for the custody and servicing of securities within Uzbekistan.
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