OREANDA-NEWS. March 19, 2009. The National Bank of the Republic of Uzbekistan constantly works to meet the targets set in the Presidential Resolution No. 726 of 7 November 2007 "On measures to further develop the banking system and draw idle funds to the banking circulation."

In order to improve the welfare of the population and further develop the market for securities the Central Bank of Uzbeksitan registered the "Conditions of issuance, circulation and repayment of the savings certificates of the National Bank of Uzbekistan for Foreign Economic Activity for private individuals" on 2 March 2009.

According to this document the nominal value of the reward savings certificates of the National Bank of Uzbekistan for Foreign Economic Activity constitutes 5,000 soums, and the interest rate makes up 18% pa plus a bonus of 2% pa. The bonus and the interest are paid upon the maturity of the savings certificate.

A reward savings certificate is a security on which the payment is made to the presenter, issued in the form of paper. Reward savings certificates of the National Bank have the following advantages: the interest earned is not made subject to tax; they have high liquidity, i.e. they may be freely traded in the secondary market and sold to other individuals.
 
The most important innovation of this issuance is the fact that for the first time in the market of banking securities, the National Bank of Uzbekistan for Foreign Economic Activity is organizing a draw of prizes on savings certificates.

The prize fund consists of different objects of household technology. Upon the maturity of the papers, individuals that purchase these securities will receive the main sum of deposit plus the interest, as well as an opportunity to win valuable prizes.