Deal on sale of Aloqabank building for loan money canceled

Earlier, we reported that on April 4, a company called Black Gold Industry News won a bid to purchase Aloqabank’s head office building for 317 billion 146 million soums. The interesting point is that this company took a loan (390 billion soums) from Aloqabank just one day before the auction, which means it bought the bank’s main office for the money it borrowed from the bank.

However, on May 4, the Chairman of the Central Bank Board Mamarizo Nurmuratov said that the deal had been cancelled later.

“The deal on the sale of administrative buildings of Aloqabank to Black Gold Industry News at the expense of long-term concessional bank loans (for a period of 15 years at a rate of 14%) has been cancelled,” Mamarizo Nurmuratov said.

The loan itself for 390 billion soums, issued to the company, was also canceled.