Uzbekistan to use English common law at new Tashkent financial centre

Uzbekistan is establishing the Tashkent International Financial Centre (TIFC) to attract foreign investment by implementing a special legal regime based on English common law principles. The center will operate under a separate legal framework from Uzbekistan’s broader civil-law system, featuring an independent international commercial court and arbitration mechanisms to facilitate international business standards.

During the inaugural Central Asia–UK Think Tank Forum in Tashkent, Javlon Vakhabov, Director of the International Institute for Central Asia, noted that the United Kingdom could provide significant investment expertise and legal know-how. The initiative aims to create direct links between the TIFC and the City of London.

This move follows recent financial milestones, including the May international debut in London of the National Investment Fund of Uzbekistan, which is managed by Franklin Templeton. President Shavkat Mirziyoyev recently approved organizational measures to launch the center as part of a broader effort to attract private capital and improve corporate governance and financial reporting standards.