Counsel to Founder of Fintech Platform Solfy Issues Public Statement

London, 27 April 2026 – Amsterdam & Partners LLP, which serves as international counsel to the founder of fintech platform Solfy Uzbekistan, issues the following statement:

The National Bank of Uzbekistan has issued a statement dated 4 April 2026 that is demonstrably false. At a time when global markets place heightened emphasis on transparency and compliance, the spread of disinformation by a government banking authority should be of serious concern to the global investment community.

In the course of ongoing settlement negotiations, the Bank employed coercive measures reminiscent of a bygone era, leveraging state administrative resources to exert pressure on a private commercial dispute. Specifically, the Bank facilitated the arrest and unlawful detention of Mr. Uktam Xasanov in an apparent attempt to force a resolution on terms favourable to itself. The charges brought against the local CEO lack any factual or legal foundation and bear no relation to the underlying dispute.

Such actions constitute a clear breach of Uzbekistan’s obligations under multiple international treaties and standards governing due process, investor protection, and the rule of law.

Counsel has formally reached out to the President of Uzbekistan, calling for the immediate release of the unlawfully detained individual and the resumption of good-faith negotiations aimed at achieving an equitable resolution. Further, formal communications have also been sent to relevant international bodies.

 We look forward to the Bank returning to compliance with the norms of proper corporate governance. We are planning a global press conference out of London shortly, to discuss these and other issues relating to Uzbekistan.

What began as a routine commercial dispute has now been escalated by the Bank into a matter of political and regulatory concern. Without an immediate return to lawful conduct and internationally accepted standards, there can be no meaningful path to resolution.

 Amsterdam & Partners is an international law firm specialising political cases and human rights, based in London and Washington, DC. For more information, please visit www.amsterdamandpartners.com. Media enquiries may be directed to contact@amsterdamandpartners.com.  

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