CitiBank receives accreditation for office in Uzbekistan

CitiBank AS (a subsidiary of the US-based CitiBank) has officially registered its representative office in Uzbekistan, reported Kursiv.uz.

The Central Bank of Uzbekistan accredited the Turkish-based CitiBank AS to operate a representative office in the country.

The office will focus on studying Uzbekistan’s financial market and expanding cooperation with government agencies and financial institutions. Unlike a branch, it will not provide banking services to individuals or businesses.

On June 25, a Citigroup delegation met with the leadership of the Ministry of Investments, Industry, and Trade of Uzbekistan. The parties discussed attracting investments, supporting exporters, and cooperation in developing public-private partnership (PPP) projects.

On the same day, it was announced that a Citi representative office would be opened soon in Tashkent.

The initial agreements to open the office were reached during a 2023 meeting between President Shavkat Mirziyoyev and Citigroup CEO John Dugan.