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JSC Bank of Georgia conducted the first transaction to purchase government bonds within the framework of the “Regulatory Sandbox” in the capital market
On 13th of June 2024 JSC Bank of Georgia, one of the largest banks in Georgia, a regional custodian bank and the first participant in the special legal regime "Regulatory Sandbox" of the capital market of the Republic of Uzbekistan, executed its first trade for the purchase of local government bonds issued by the Republic of Uzbekistan, denominated in soums, through the trading platform of Uzbekistan Republican Currency Exchange.
Bank of Georgia is a subsidiary of Bank of Georgia Group PLC, listed on the London Stock Exchange (ticker: BGEO) with a current market capitalization exceeding £2.0 billion and a member of the FTSE 250 Index.
JSC Bank of Georgia became the first member of the currency exchange in Uzbekistan to directly participate in securities trading as a participant within the special legal regime “Regulatory Sandbox” in the field of the capital market. This historical event may help attract large international financial institutions and portfolio investors to Uzbekistan, including large custodian banks and investment intermediaries.
The major shareholders of the parent company, Bank of Georgia Group PLC, include large international and global investment funds and investment companies such as Georgia Capital JSC, M&G Investment Management Ltd., BlackRock, JPMorgan Asset Management (UK) Ltd., The Vanguard Group, Inc. among others.
Bank of Georgia also acts as a local sub-custodian bank in securities markets of Georgia and Armenia for three of the largest global custodian banks and the International Central Securities Depository (ICSD) Clearstream, headquartered in Luxembourg.
On February 26th 2024 the National Agency of Perspective Projects which is the securities market regulator in Uzbekistan, registered Bank of Georgia as a participant of the special regime in accordance with the Regulation on the Procedure for Granting a Special Legal Regime "Regulatory Sandbox" in the capital market. It allowed Bank of Georgia to become the first foreign nominal holder of cash and securities at the Central Bank of Uzbekistan (CBU) and the JSC "Republican Currency Exchange of Uzbekistan", respectively.
