IT Park resident launched a mobile app for trading shares of local companies

IT company Multicard Payment, the resident of IT Park in collaboration with investment intermediary Silk Capital LLC launched premiere mobile app on operating with the stock market of Uzbekistan.

The new product was designed as part of the Capital Market Development Program in 2021–2023, according to which from May 10, 2022, the Ministry of Finance permitted mobile applications integrated with the HTS / MTS web of the RSE «Tashkent» that allows buying and selling shares of local issuers to be launched in a test mode.

Innovative trading service «Multicard.Investments» is easy to use. The transactions take place on the unified software and technical complex of RSE «Tashkent», the application facilitates the access to user’s personal account.

How the app works

After registration when user has an access to a brokerage account, a user can purchase shares by replenishing his/her depo account with one click through the app.

Client identification takes place offline, so the service is currently only available to clients in Tashkent. After approval of remote opening of a depo account, the application will be available throughout the country.

Features that the app offers

• The shares status of each company that is easy to track;

• Varieties of companies to choose from the list;

• Analysis of shares value increase/decrease in user's portfolio and the balance of the brokerage account as of the current moment;

• track the history of deposits and withdrawals.

One can deposit one’s brokerage account through Uzcard or Humo cards linked to the service.

Recall that, according to the data of the Central Securities Depository, as of May 1, 2022, there are 627 issuers of shares in Uzbekistan, and the total volume of issued shares at par value is 162.3 trillion soums. The state and economic management bodies account for 91.1%, foreign investors - 2.7%, other investors (private individuals and legal entities) - 6.2% of share ownership. The number of individuals holding shares is over 850,000.