# Uzbekistan capital market integration and development > Live situation record from CLSTR: https://clstr.news/situations/uzbekistan-capital-market-integration-and-development > Updated: 2026-08-14T02:09:23.000Z. Sources: 5. Developments: 2. Uzbekistan is implementing legislative and financial reforms to increase its integration with global capital markets. The Ministry of Economy and Finance announced that the country’s soum-denominated sovereign international bonds will be included in the J.P. Morgan Government Bond Index – Emerging Markets (GBI-EM) starting September 30, 2026. This inclusion makes Uzbekistan the only country in the Commonwealth of Independent States to have local-currency sovereign bonds in the index. To support this expansion, the government has introduced a draft law, ‘On the Capital Market’, intended to expand financial instruments and improve market infrastructure. These efforts follow credit rating upgrades from Moody’s and positive outlook shifts from Fitch and S&P. Additionally, the private sector is participating in market growth, exemplified by Asia Alliance Bank’s plan to issue $20 million in foreign-currency bonds. ## Timeline ### 2026-08-14: Uzbekistan expands capital market reach through new laws and bond issuances Uzbekistan is strengthening its capital markets through new legislation and planned sukuk issuances, while Asia Alliance Bank prepares a $20 million foreign-currency bond offering. 4 sources. https://clstr.news/cluster/uzbekistan-expands-capital-market-reach-through-new-laws-and-bond-issuances ### 2026-08-09: Uzbekistan sovereign bonds to join J.P. Morgan GBI-EM index Uzbekistan's soum-denominated sovereign bonds will join J.P. Morgan's GBI-EM index on September 30, 2026, increasing global investment visibility for the nation's debt market. 3 sources. https://clstr.news/cluster/uzbekistan-sovereign-bonds-to-join-jp-morgan-gbi-em-index --- Cite as: Uzbekistan capital market integration and development. CLSTR, https://clstr.news/situations/uzbekistan-capital-market-integration-and-development