On 17th September, Tashkent hosted the 8th Cbonds International Conference “Capital Market of the Republic of Uzbekistan.”

The conference focused on key developments in Uzbekistan’s capital market and its future prospects, including measures to enhance market liquidity, stimulate issuer activity, introduce new financial instruments, as well as attract foreign capital and strengthen integration with international financial markets.

Separate sessions also addressed promising areas of capital market development, including Islamic finance and sukuk, digital assets, tokenization, and fintech solutions.

Fayzulla Tashov, Acting Chairman of the Republican Stock Exchange “Toshkent,” took part in the plenary session entitled “Capital Market: Key Changes and Development Prospects.”

In his remarks, he highlighted the current state and dynamics of the corporate bond market, foreign investor participation, coupon rates, as well as the systematization of market data and the expansion of analytical capabilities.

From 2024 through the first eight months of 2026, 39 issuers carried out 73 corporate bond issues, with a total volume of UZS 7.86 trillion. The number of foreign investors reached 374, while the volume of bonds held by them amounted to UZS 1.89 trillion.

For listed corporate bonds with fixed coupon rates, the weighted average coupon rate stood at 19.44%, with rates ranging from 16.5% to 28%.

The presentation also placed particular emphasis on the Exchange’s “Tashkent Stock Exchange Market Data” project. The project envisages integrating market data, financial statements, and trading information into a single system and using them to develop financial and market ratios, indices, company valuation tools, and SWOT analysis of issuers.

Attention was also paid to the integration of the Exchange’s data into the international information infrastructure. In particular, it was noted that Refinitiv, Bloomberg, KASE, and SCL Advisory had submitted requests to receive the Exchange’s data, and that the provision of market information to these organizations and information platforms is planned in the future.

The conference served as an important platform for discussing the development trends of Uzbekistan’s capital market and further enhancement of its integration with the international financial infrastructure.