Ukraine: NBU registers 23 debt collection companies

The National Bank of Ukraine (NBU) has officially registered 23 debt collection companies, according to the NBU Governor Kyrylo Shevchenko. “The National Bank initiated “tectonic” changes in the debt collection market. For the first time, in 2021, Ukraine introduced a legal framework for regulating the relations of debt collection companies and financial institutions in settling…

Georgia: economy up in August 2021

The estimated real gross domestic product (GDP) growth rate in August amounted to 10.3% YoY and 12% in January-August, preliminary data from the National Statistics Office of Georgia (Geostat) showed. Last month the following industries of the economy posted growth compared to the same period of the previous year: manufacturing, financial and insurance activities, trade,…

Uzbekistan: EBRD and IFC buy shares in TBC Bank

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) plan to acquire up to 20% each in TBC Bank Uzbekistan (TBC UZ), a subsidiary of TBC Bank Group. The investments are aimed at strengthening digital finance in Uzbekistan and, thereby, increasing financial inclusion in the country. The first installment is…