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Politics

Uzbekistan’s president takes the chair of the financial centre’s board by his own decree, with his daughter as managing director

A presidential decree on the launch of the Tashkent International Financial Centre makes the head of state the ex officio chairman of its supervisory board and confirms Saida Mirziyoyeva as managing director alongside her post at the head of the presidential administration, UzDaily reported on Saturday evening.

Uzbekistan’s president takes the chair of the financial centre’s board by his own decree, with his daughter as managing director

The decree carries the title of organisational measures for launching the centre’s activity. It is issued under article 8 of the constitutional law on the centre, which the president signed in July, and it settles the question the 10 September appointment left open: who sits above the managing director.

The answer is the president. The supervisory board’s chairman is the head of state by virtue of office.

Membership is at least 5, on 5-year renewable terms; the first meeting falls within 2 months of the decree’s publication, and there must be at least two a year.

At least a third of the board must be specialists in international finance and commercial law who hold no state post. Annexes list 31 decisions the centre needs before it can operate and 10 that require coordination with state agencies.

The answer is the president.

The centre’s site is the Tashkent City complex; its tax benefits run to 1 January 2076.

Saida Mirziyoyeva heads the presidential administration and has run the centre concurrently since 10 September, when the appointment was announced without a decree number. The centre itself dates from decree UP-48 of 30 March; the constitutional law passed the Senate on 9 July after revision and was signed that month.

UzDaily gives no number or date for the new decree, and Gazeta.uz had not carried it by Monday morning. The 31 decisions sit in an annex the report does not reproduce.

The arrangement puts one family at both ends of the table: the manager reports to a board her father chairs, and a third of that board is reserved for outsiders by the same signature.