National Bank of Uzbekistan - 21% p.a.

Deposit rates 21% per annum.
Ta'til — 21%. The amount of the first on the deposit — not less than ten thousand Soums,and following contributions — not less than two thousand Soums.

Kelajak deposit could be made for under-16-year-old children for the time period. Deposit is fixed at 25% per annum.

Uzbekistan’s banking system is composed of 32 banks and is dominated by the National Bank of Uzbekistan, a state-controlled institution that holds roughly 40 percent of all deposits in the country. Citing measures to prevent money laundering and the financing of alleged terrorist and criminal groups, authorities have until very recently maintained tight control over the banking sector. In particular, officials have scrutinized transfers from outside the country.

Frequent government interference and rigid regulation have severely hampered the development of Uzbekistan’s financial sector. In 2007, Uzbekistan ranked at the bottom of the Economist’s Emerging Market Access Index, which measures a particular country’s openness to trade and investment. The country’s banks have also suffered from low public confidence. Total retail deposits in Uzbek banks amounted to approximately $760 million in 2007. Although this represented a 50 percent increase compared with 2006, the total was still relatively paltry. In neighboring Kazakhstan, by contrast, retail deposits reached $12 billion at the end of 2007.


Moody`s Investors Service said it assigned National Bank for Foreign Economic Activity of the Republic of Uzbekistan a bank financial strength rating (BFSR) of `E+`, long and short-term local currency deposit ratings of `Ba3/Not Prime` and long-term and short-term foreign currency deposit ratings of `B3/Not Prime` with a stable outlook.