A New Phase of Operational Cooperation Between the Central Depositories of Armenia and Uzbekistan

The Central Depository of Armenia (CDA) and the Central Securities Depository of Uzbekistan (UzCSD) have signed a cooperation agreement, through which the Central Depository of Armenia will open a foreign nominee account at the Central Securities Depository of Uzbekistan. This will enable the registration and safekeeping of securities, as well as the servicing of transactions and the execution of corporate actions in accordance with international standards.

The agreement was signed on March 30, 2026, with the participation of the CEOs of the central depositories of the two countries, Ani Makaryan and and Sherali Abdujabbarov, marking a new phase of cooperation aimed at deepening market integration and enhancing infrastructural connectivity.

This cooperation aims to:

•    Ensure the secure safekeeping of securities and the registration of rights through accounts opened at UzCSD,
•    Simplify and make cross-border transactions more efficient,
•    Expand market participants’ access to Uzbekistan’s capital market,
•    Promote investment flows and financial cooperation between the two countries.

Ani Makaryan, CEO of the Central Depository of Armenia, stated: 

"The establishment of such operational links for the Central Depository of Armenia is an important step within the framework of our international integration strategy. Opening a nominee account with the Central Securities Depository of Uzbekistan will enable our market participants to access new markets more easily and benefit from expanded 

Investment opportunities. As a rapidly developing market, we see Uzbekistan as having the potential to serve as a bridge for capital inflows between the West and the Middle East. This creates opportunities for both local and foreign investors.

Uzbekistan, as a fast-growing market, has significant potential to attract capital flows from Europe and the Middle East. Meanwhile, the Central Depository of Armenia positions itself as a bridge between different regions, including Uzbekistan creating new opportunities for local and global investors. 

I would like to express my gratitude to our partners for their willingness to cooperate, high level of professionalism, and shared vision. We look forward to a successful and long-term partnership."