A concise overview of Uzbekistan's bond market, covering all placements since 2019. Since then, 26 companies have issued bonds totaling 3,314.7 billion soums. The report highlights key issuers, coupon rates ranging from 8% to 29% annually, and placement terms. The banking and microfinance sectors dominate the market. The overview also outlines the main advantages of bonds — including tax benefits and flexible collateral terms — as well as structural challenges such as limited secondary market liquidity and the absence of formal credit ratings. Essential reading for investors exploring fixed-income opportunities in Uzbekistan.