This week, key topics were discussed in the fields of economics, transportation, and construction. In this weekly roundup, Spot has gathered the most important articles and news that you might have missed.
Economics
The deposit insurance amount has been reduced to 200 million sums. Now, when a bank closes, the state guarantees the return of no more than 200 million sums to a single depositor in one bank. If the amount exceeds this, the remaining funds can only be retrieved if the bank has sufficient resources.
The law also extends guarantees to the deposits of entrepreneurs and businesses. Deposits made before the law was signed—February 18, 2025—are fully guaranteed.
The Central Bank has denied rumors regarding the verification of the origin of funds when closing deposits. It was reported on social networks that banks require clients to provide certificates about the origin of funds when withdrawing deposits. The Central Bank clarified that this requirement applies only to large international transfers and does not extend to deposits.
Additionally, banks have started sending SMS notifications regarding the number of active cards and warn about the blocking of unused cards within 12 months. The Central Bank previously set a limit on the number of cards—no more than 20 for one person, with a maximum of 5 allowed to be opened in one bank.
The Ministry of Economy and Finance has denied rumors about increases in pensions and salaries. Social media circulated messages about a two-phase increase in pensions and salaries in 2025—in March and August—by 10%. The ministry labeled these as unreliable and reminded that official information is published only through government sources.
A draft law for proactive pension assignment without the need for an application has been approved by the Legislative Chamber of the Oliy Majlis and sent to the Senate. If adopted, pensions will be assigned automatically without a separate application requirement.
Uzbekistan plans to create an experimental platform where citizens can buy shares of foreign companies.
Currently, legislation prohibits the purchase of foreign securities, but the new mechanism will help engage citizens in the stock market.
There is also a consideration for issuing currency bonds to attract the free funds of the population into the economy.
Furthermore, Uzbekistan will issue three tranches of sovereign eurobonds worth $1.5 billion, as reported by Fitch. The bonds are equally denominated in three currencies: $500 million (7-year term), €500 million (4 years), and 6 trillion sums (3 years).
Construction
A gastro-tourism complex is planned to be created in the Almazar district of Tashkent, covering an area of 7.3 km to the north and northwest of the Chorsu market. The project will involve about 430 households, with investments totaling $50 million. It is expected that tourist traffic will triple to 11,000 people per day.
In the Yakkasaray district, a proposal has been made to construct a multi-story business center, a hotel, and residential buildings.
The complex is planned to be located on Glinka Street near the Besh Qozon café; however, residential buildings are located in this area. The city administration has stated that a final decision on the construction has not yet been made.
This week, the Senate also approved fines for builders for dust emissions from construction sites. Offenders face a fine of 10 BRV (3.75 million sums), and in case of repeated violations within a year, the amount will increase to 50 BRV (18.75 million sums).
On the Unified Portal of Interactive State Services, it is now possible to obtain a permit for building renovations and receive architectural planning assignments. Applications are processed in 12 working days instead of 20, and the cost of the service has been reduced. Currently, the system operates in pilot mode only for Tashkent.
An investigation has been initiated against the developer of the Askiya City complex in Tashkent, and all construction and assembly work has been suspended, according to the Ministry of Construction. The residential facility was being built without permission. Multiple directives have been sent regarding this matter.
Transportation
This week, Uzbekistan introduced a points-based penalty system for drivers. Now, for certain traffic violations, in addition to the main fine, up to 2 points will be added. If 12 or more points are accumulated within a year, the driver will lose their license for 6 months.
Fines for driving under the influence have also been tightened. Now, the penalty for this will amount to 40 BRV (15 million sums) instead of 25 BRV, and the license suspension period will be 3 years. Similar sanctions are introduced for handing the wheel to a drunk driver and refusal to undergo a medical examination.
Fines for driving without a license have increased to 50 BRV (18.75 million sums) or arrest for 15 days. The fine for littering from a vehicle and driving on pedestrian paths has risen to 1 BRV (375,000 sums).
The concept of "road hooliganism" has also been added to the Code of Administrative Offenses; it includes drifting and sharp lane changes ("shashki"). For this, a fine of 25 BRV (9.375 million sums) and a license suspension for 1-2 years are imposed. If a driver has already had their license revoked or has never had one, they face a fine of 50 BRV (18.75 million sums) or arrest for 15 days.
0Deals of the Week
The co-founder of UPay has acquired the payment service Pay Way. Behzod Botirov purchased 74.38% of Pay Way's shares for 8.18 billion sums and offered the remaining shareholders to sell their stakes. The head of the service, Bunyod Sattarov, retained 10.39% and continues to manage the company.
The State Asset Management Agency has allowed three investors to purchase "Yoshlik." The winner will be determined on February 28, and the new owner must maintain the sports activities of the complex for at least 10 years.
The privatization of "Avtokomponent" and "Trest-12" has also been completed.
98.8% of "Avtokomponent" was acquired by the joint venture Uz-Dong Won Ko for 105 billion sums. The buyer has committed to maintaining the company's profile and compliance with GM standards.
51.12% of "Trest-12" was sold to Delta Global Dynamics for 111 billion sums. The company belongs to Daniyar Kamilov, the son of the Secretary of the Security Council and former Minister of Foreign Affairs Abdulaziz Kamilov.
Event of the Week
Last week, reports emerged about the demolition of Anhor Park in Tashkent and the construction of a residential complex in its place. Tenants of the shopping center in the park confirmed that they received notifications about the closure and have already vacated the premises.
There have been no official comments from the park administration, city authorities, or the developer yet.
Spot investigated the situation, learning the perspectives of tenants and activists advocating for the preservation of the park.
Renderings of the project that led to rumors about the development of the entire Anhor Park were created by Golden House. However, later the company denied these plans, explaining that the images were part of an internal presentation from a former employee who left in 2024.
Meanwhile, a deputy from the Ecological Party has sent a request to the Prosecutor General's Office and the Ministry of Construction to verify the legality of the possible construction.
The Senate has also approved a law prohibiting the privatization of park land. Now, violations of these norms may result in criminal liability.
Articles of the Week
The founder of the Happy Bird gallery, Elena Ladik, shared with Spot how the idea of sewing national clothing in Samarkand came about, what makes her products exclusive and different from similar analogs, and why artistic value is so important in her works.
1The founder of the company, Abdulkahhor Tashmukhamedov, told Spot how he built a business for process automation with a turnover of $3 million a year, expanded into neighboring markets, engaged in social projects, and