Otabek Nazirov was appointed director of the Agency for developing capital market.

The Agency will replace the Center for coordination and development of the securities market, will deal with the protection of the rights and interests of the securities market players, will be responsible for licensing the work of stock exchanges and cooperation in the development and regulation of the capital market.

In general, it is now responsible for implementing a unified state policy in the field of formation, development and regulation of the securities market and corporate governance.

“All over the world, mainly in the Anglo-Saxon countries, the capital market is one of the main sources of financing companies and the economy as a whole. As an alternative to the banking sector, it is traditionally understandable to all,” Mr. Nazirov said.

He noted that during the study of international experience, the main task is to introduce the most optimal model of relations between participants of the financial market into Uzbekistan.

Otabek Nazirov, born in 1975, lived and worked abroad for many years. He graduated from the University of New York in the USA.

He served in such financial and investment companies as Goldman Sachs Group, The Avascent Group, JPMorgan Chase in the US, “Troika Dialog” and MDM Bank in Russia. He was a senior regional banker in the industrial investment support department at the European Bank for Reconstruction and Development.

It should be recalled that in spring of 2018, he was appointed Deputy Minister of Innovation Development. Then he was transferred to the Ministry of Public Education to the post of Deputy Minister, where he worked until his current appointment.