Best bank – Not awarded
Best local partner/best debt house – Carthill Asset Management
The obvious candidate for the best bank award in Uzbekistan is the National Bank of Uzbekistan (NBU), which enjoys a government-supported monopoly and has around 72% of all banking assets in the country.
However, the bank has suffered from excessive intervention by the government in its affairs. In particular, the government still refuses to alter the country’s currency convertibility regime, which is enriching a handful of politicians and businessmen at the expense of the country’s FDI.
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