Uzbekistan in talks with Belgium over return of $108m belonging to jailed ex-president's daughter, RIA reports
Published by Global Banking and Finance Review
Posted on April 24, 2025

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Global Banking and Finance Review
Posted on April 24, 2025

ALMATY, Kazakhstan (Reuters) - Uzbekistan's government is negotiating with Belgian authorities over the return of $108 million in frozen assets belonging to Gulnara Karimova, the jailed daughter of the country's former president, Russian state news agency RIA reported on Thursday.
RIA cited Uzbekistan's deputy finance minister as saying that the funds may be given back to Uzbekistan via United Nations' mechanisms, and spent on UN projects in the Central Asian country of 35 million people.
Karimova, a powerful businesswoman during her father Islam Karimov's presidency, also held a series of official posts, recorded pop songs, and produced her own fashion line.
She ultimately fell out with her father, who died in 2016, in around 2014.
Karimova, 47, was jailed in March 2019 for violating the terms of her house arrest after receiving a five-year sentence in 2015 on charges of embezzlement and extortion.
She had amassed a fortune of well over a billion dollars, much of which was stashed overseas.
Uzbekistan has previously reached agreements with Belgium and Switzerland for the restitution to the Uzbek government of several hundreds of millions of dollars of Karimova's frozen assets.
On Karimov's death in 2016, his former prime minister Shavkat Mirziyoyev succeeded him as president, promising a loosening of Karimov-era controls on the economy, as well as a crackdown on corruption.
(Reporting by Mariya Gordeyeva, Writing by Felix Light; Editing by Sharon Singleton)