Austrian Bank Joins Uzbekistan’s Capital Market “Regulatory Sandbox”

Raiffeisen Bank International AG has joined a special legal framework on Uzbekistan’s capital market, according to the National Agency for Prospective Projects (NAPP).

The Austrian bank has been registered by NAPP as a participant in the “Regulatory Sandbox” for the capital market, becoming the sixth institution to join the initiative, The Caspian Post reports, citing Uzbek media.

Under this framework, Raiffeisen Bank will serve as a foreign nominal holder, enabling clients to store and conduct settlements for Uzbek securities purchased through the Uzbek Republican Currency Exchange and the Uzbekistan Stock Exchange.