Privatization

According to Presidential Degrees from 14.03.2005 “About privatisation program for 2005-2006 years” and from 15.04.2005 “About measures for further reforming and liberalisation of banking system” for foreign investors planed realisation 51% of Asaka Banks’ stocks.

INVITATION TO PARTICIPATE IN THE COMPETITION

State property committee of the Republic of Uzbekistan

Invites international assessment and consulting companies to participate in the competition for selection of the company to assess value of the 51% shares of the State Joint - Stock Commercial Bank “Asaka”.

Assessment and consulting companies interested in participation in the competition should submit:

-         Completed and signed Application for participation and Statement on confidentiality upholding.

-         Participation Proposal according to the Form of Competition Participation Proposal.

Form of Competition Participation Proposal is available at the Case-by-Case Privatization Bureau of the State Property Committee of the Republic of Uzbekistan.

Competition participants within given period of time shall submit a package of Competition Bid, containing two envelope: the first envelope – “Legal Authority and Qualification Information” and the second envelope – “Financial Proposal” to the address, indicated below. The selection of winner will be carried out in two stages:

1. Opening of the first envelope by the authorized commission and submission the materials to the Interdepartmental Working Group for estimation of conformity of competition participants to the qualification requirements, presented to participants;

2. Opening and estimation of financial proposals of the qualified participants by the Interdepartmental Working Group and submission of the results to the State Tender Commission for determination of the winner.

The preference will be given to the competition participant, which conforms to qualification criteria, ready to offer the least bid for valuation services.

Deadline for submitting proposals is: at 12 a.m. Tashkent time, on June 5, 2007.

Opening of the first envelope of the Competition Bids will be held in the Meeting Hall of the State Property Committee of the Republic of Uzbekistan (5th floor) at 3 p.m. Tashkent time on June 5, 2007. Opening of the second envelope will be held after estimation of conformity of competition participants to the qualification requirements at the meeting of Interdepartmental Working Group.

Competition participants or their authorized representatives, which have submitted Competition Bids in accordance with established procedure, have the right to participate at the opening of the packages with Competition Bids.

For additional information please contact: 

Case-by-Case Privatization Bureau

(CCPB)

Republic of Uzbekistan,

Tashkent, 700003

Uzbekistan Avenue
, 55

Building of the State Property Committee of the Republic of Uzbekistan, Floor 17.

Attn:                 Erkinjon S. Foziljonov, Director General

Phone:             +998 (71) 139 22 51

Fax:                 +998 (71) 139 22 79
E-mail:             ccpbuz@tps.uz

According to international standard, during the first half of 2007 is planning realisation of bid for picking Financial Consultant. The function of consultant will be: Diagnostic inspection and bank evaluation, preparation of recommendation on strategic privatisation and increasing bank attractiveness, bid document preparations, also marketing research in order to realise banks’ stocks.
Taking in to account dimension of Bank, its economic and strategic necessity from foreign investors interested about beginning of privatisation Asaka Bank. In part from behalf of Asaka Bank is doing active preparations, one of them by international standard there was auditing of the bank. Besides, need to note next advantages of Asaka Bank which are different from other financial institutions in Uzbekistan. It was founded November 7, 1995 and at present time it is one of the biggest bank by activity scale and perspective development of banks Uzbekistan. At present time Asaka Bank is universal bank, offering full complex services to legal and physical person. Asaka Bank has experience in international relations, services in export-import transactions. Actively works in investment activity, financing of big investment projects. Asaka Bank successfully implements foreign credit lines, such as international financial institutions: European Bank Reconstruction and Development (EBRD), Asian Development Bank (ADB) and International Financial Corporation (IFC).
Asaka Bank carries out for its clients all types documentary payments, accepted by international banking practice and by offering any kind transactions on documentary letter of credits. Asaka Bank is unique and first bank in the Republic of Uzbekistan, which created own fully functioning processing centre on processing operations of MasterCard.

For successfully determination international projects Asaka Bank has expansive corresponding net, including countries from Western Europe and USA. Initially, the Bank focused on the development and support of the automotive industry and improvement of its structure. The work in this industry resulted in construction of several large factories producing component parts for automobiles manufactured by JV “UzDAEWOOAvto”. Previously these parts had been supplied from abroad. The construction was financed by Asaka Bank.
Today, the Bank has extended its business significantly, and investments in industry such as the pharmaceutical, light and food industries, construction, telecommunication, chemical, transportation and other sectors of the national economy have increased considerably.