The National Agency for Prospective Projects (NAPP) of Uzbekistan has annulled the permit of Toshkent Investitsiya Majmui LLC to carry out professional activities as an investment intermediary in the securities market.
The National Agency for Prospective Projects (NAPP) of Uzbekistan has annulled the permit of Toshkent Investitsiya Majmui LLC to carry out professional activities as an investment intermediary in the securities market.
According to the agency's statement, this decision was made in accordance with Article 33 of the Law of the Republic of Uzbekistan 'On Licensing, Permitting, and Notification Procedures,' as well as Paragraph 49 of the Regulation on the Procedure for Licensing Professional Activities of Investment Intermediaries and Fiduciary Managers of Investment Assets in the Securities Market.
License No. 1424, which was issued to the company on August 16, 2023, has been revoked. This decision came into force on July 29, 2026. Furthermore, NAPP reported that the relevant changes have been made to the register of participants in the professional securities market, which is published on the agency's official website.
Joint Stock Company 'Tashkent Invest', which is under the control of the capital's hokimiyat, has acquired significant new powers and rights, confirming its status as a major owner of urban real estate.
The company will create a so-called 'apartment bank'. This bank is intended for providing housing for rent and making compensation payments to owners of property located in renovation zones. The acquisition of residential and non-residential premises for this purpose will be carried out through a request for proposals, using funds from the Tashkent Development Fund and other authorized sources.
In addition, 'Tashkent Invest' will take on the role of the client when implementing market sites. State shares in these markets, which will be put up for public auction, will come under the management of this company. Furthermore, in the fourth point of the document, the company was granted exclusive rights to certain land plots, although the document does not reflect tasks regarding increasing transparency and accountability in connection with the expansion of its powers.
