Our People > Sadokat Jalolova

Sadokat Jalolova

Journalist

Jalolova has worked as a reporter for some time in local newspapers and websites in Uzbekistan, and has enriched her knowledge in the field of journalism through courses at the University of Michigan, Johns Hopkins University, and the University of Amsterdam on the Coursera platform.

Articles

Crypto Stocks

Wallet in Telegram Launches Crypto Stocks Pilot for 27 Million Users in Uzbekistan

A new digital investment service allowing users to trade tokenized U.S. stocks directly within Telegram has been launched in Uzbekistan as part of a pilot program overseen by the country’s National Agency for Prospective Projects. On March 5, a new “Crypto Stocks” section was introduced within the Wallet feature in Telegram, giving users access to more than 60 tokenized shares and exchange-traded funds (ETFs). The one-month pilot program began in March 2026 and is being implemented with support from Asterium, described as Uzbekistan’s largest cryptocurrency exchange. The service allows users to buy, sell, store, and transfer tokenized versions of shares in major U.S. companies such as Apple, Tesla, Netflix, and Amazon, as well as ETFs tracking the broader U.S. market, including funds linked to the S&P 500 index. These assets can be sent directly to other Telegram users within the app without requiring them to open accounts on traditional brokerage platforms. According to the developers, the system is designed to make global investment tools easier to access for everyday users. Investments can start from as little as $1, allowing users to purchase fractional shares rather than full stocks. According to Global Findex 2025 data cited in the release, more than 60% of Uzbekistan’s population now has an account with a bank or other financial institution. However, barriers such as limited funds, the distance to bank branches, and the cost of financial services continue to prevent many people from accessing traditional financial products. Andrew Rogozov, founder and CEO of The Open Platform and Wallet in Telegram, said the new service aims to make global financial markets accessible through familiar digital platforms. “By bringing tokenized equities into Telegram, we’re giving millions of people their first opportunity to participate in global financial markets directly where they communicate and use digital services,” he said. Diyorbek Mukhammedov, Wallet’s regional director in Uzbekistan, said the initiative responds to growing interest in investing while addressing the complexity that often discourages new investors. Integrating the service into Telegram, he said, helps make financial tools more understandable and accessible. The system operates through integration with the xStocks platform and a partnership with the Kraken cryptocurrency exchange. Tokenized assets are issued by Backed and are designed to maintain one-to-one backing with underlying U.S. stocks and ETFs. Trading on the platform is available 24 hours a day on weekdays. Wallet in Telegram, backed by The Open Platform, reports more than 150 million registered users globally. The service became available in Uzbekistan in December 2025 after receiving a license from the National Agency for Prospective Projects.

1 month ago

Middle East

Middle East Conflict May Slow Growth, but Gold and Oil Dynamics Could Cushion Impact

The escalating conflict in the Middle East could weigh on Uzbekistan’s economic growth if it persists, though higher gold prices and oil-driven gains in key partner economies may soften the impact, according to Uzbek economist Mirkomil Kholboyev. Kholboyev shared his analysis on his Telegram channel, examining both the direct and indirect channels through which the crisis could affect Central Asia’s largest economy. “Several days of geopolitical tensions in the Middle East have already turned into open military confrontation,” he wrote. “It is still difficult to say how long this situation will last. If it is short-term and the previous status quo is restored, the impact on our economy will likely be limited and temporary. But if the war continues for a longer period, the consequences could be more significant.” Direct trade exposure appears limited. According to data from Uzbekistan’s national statistics portal, the country exported $157 million worth of goods to Iran in 2025, accounting for just 0.5% of total exports. Imports from Iran totaled $421 million, or 0.9% of overall imports. Trade with Israel was even smaller, with exports of $33 million and imports of $22 million. “Even a complete halt in trade with these countries would not significantly affect total exports,” Kholboyev wrote, though he noted that export and import growth could slow. Iran also plays a role as a transit hub. Its ports are part of broader regional logistics networks, including the Central Asia-India corridor via Chabahar and the International North-South Transport Corridor (INSTC). According to a regional analytical report, Uzbekistan accounts for 5.5% of total traffic along this route, compared with 61.1% for Kazakhstan and 29.4% for Turkmenistan. Kholboyev pointed out that while some of Uzbekistan’s trade passes through Iranian ports, the country is less dependent on them than other Central Asian countries. Still, he cautioned that prolonged fighting would inevitably disrupt both direct trade and transit flows. “I do not have precise data on how much of our total foreign trade passes specifically through Iranian ports,” he wrote. “That makes it difficult to assess the full effect. But if the war continues, both direct trade and transit through Iran will suffer serious damage.” Even if trade with the wider region, including Iran and other countries affected by hostilities, were to stop entirely, Kholboyev estimates the impact would remain moderate. The region accounts for about 2.4% of Uzbekistan’s exports and 1.5% of imports. A complete halt could slow export growth by roughly 3% and imports by about 2.5%, reducing overall GDP growth by around 0.6 percentage points. A 50% reduction in trade with the region would shave an estimated 0.2-0.3 percentage points off GDP growth. Energy markets represent a more significant risk channel. As trading resumed after the latest escalation, global oil prices rose by about 9%, driven by concerns over potential disruptions in the Strait of Hormuz, through which roughly one-fifth of global oil consumption passes. “If tensions escalate further and oil flows are restricted, or if prices continue rising amid uncertainty, this could slow...

1 month ago

Environmental Pollution

Uzbekistan Introduces Incentives for Major Industrial Polluters to Reduce Environmental Impact

Uzbekistan’s government has approved new measures aimed at encouraging large industrial enterprises to reduce their environmental footprint. Resolution No. 85 establishes regulations to incentivize environmental impact reduction efforts by industrial enterprises classified as Category I and Category II facilities based on their level of environmental impact. These categories include enterprises considered to have significant or moderate effects on the natural environment. Under the new framework, incentives will be introduced in two stages. At the first stage, an enterprise that installs a background air pollution monitoring station will be eligible for relief from previously assessed outstanding compensation payments for environmental damage. In addition, 50% of compensation payments allocated to the state budget for environmental harm will be refunded over a two-year period. At the second stage, if the enterprise installs dust and gas cleaning equipment as well as local wastewater treatment facilities within one year after commissioning the monitoring station, 70% of the compensation payments directed to the state budget will be refunded over two years. Enterprises seeking to benefit from these incentives must notify the Ecology Committee through Public Service Centers or via the government’s online portal. The committee will review submitted documentation within 15 working days and issue a formal conclusion on whether the enterprise qualifies for state support. The Times of Central Asia previously reported, that more than a dozen valuable trees were cut down at the construction site of the Ritz-Carlton Tashkent project in central Tashkent. Environmental damage in that case was officially assessed at 351,230,000 Uzbek sum (approximately $29,000), according to documentation cited by officials.

1 month ago

FLEX Exchange Program

Uzbek FLEX Finalist Returns Home After Alleged Harassment by Host Father in Indiana

An Uzbek high school student selected for the prestigious FLEX exchange program has returned home after her family alleged she was subjected to sexual harassment by her host father in the United States. The claims were made public by her father, Dr. Aziz Boltayev, in a detailed Facebook post. Uzbek officials have confirmed that they requested explanations from program representatives, while the U.S. side has not issued a public statement. Dr. Boltayev’s daughter was one of nearly 60 finalists from Uzbekistan selected in 2025 for the Future Leaders Exchange Program (FLEX), had traveled to the United States to complete her final year of high school. The fully funded initiative, supported by the U.S. Department of State, enables students from participating countries to study at American high schools and live with volunteer host families for one academic year. According to Boltayev’s account, his daughter was placed in a small town in Indiana with a childless couple, both music teachers, who had previously hosted exchange students. Initial video calls reportedly reassured the family prior to her departure. “After graduating from medical school, I received a U.S. Department of State grant and spent time in the United States for professional development,” Boltayev wrote. “I returned to Uzbekistan with a deep sense of gratitude and a positive impression of American values. Naturally, when my eldest daughter won the FLEX grant in 2025, I was proud and supportive.” He said the situation changed approximately a month after her arrival. According to his post, the host father allegedly began making inappropriate remarks and advances when his wife was not present. “He told my daughter that it was ‘necessary to gain sexual experience’ before marriage,” Boltayev wrote. “To her credit, [his daughter] firmly resisted and immediately informed her assigned FLEX coordinator.” According to Boltayev, the local coordinator relocated his daughter shortly after the complaint was filed. However, he criticized the way communication with the family in Uzbekistan was handled. “The coordinator moved [his daughter] out of the house immediately, but in doing so, they completely bypassed us, her parents,” he wrote. Due to the time difference, he said he was informed the following day by the FLEX office in Tashkent. Boltayev further alleged that during this period his daughter’s phone was switched off and her parents’ messages went unanswered. He claimed that the coordinator had instructed her to turn off her phone for “security reasons,” which he described as isolating a minor from her parents. He also asserted that neither the temporary host family nor U.S.-based program representatives agreed to speak directly with him. According to Boltayev, his daughter was told that program officials were not obligated to provide information to her parents. Seeking reassurance, Boltayev contacted a friend, a faculty member at the University of Michigan, who lives several hours from his daughter’s location, and asked him to check on her in person. “Even then, FLEX representatives tried to block him, telling my daughter: ‘He needs our permission to see you, and for now, permission is...

1 month ago

Afghanistan-Pakistan Border

Uzbekistan Urges Restraint as Afghanistan-Pakistan Border Clashes Escalate

Armed clashes along the Afghanistan-Pakistan border have intensified, prompting Uzbekistan to call for restraint and a diplomatic resolution. Active hostilities reportedly began after Afghan forces opened fire on Pakistani military posts in mountainous areas along the Durand Line in northwestern Pakistan, according to media reports on February 27. Officials in Uzbekistan view stability along the Afghanistan-Pakistan border as directly linked to Central Asian security. Potential regional risks include the proliferation of illegal weapons, drug trafficking, militant activity, refugee flows, and possible disruptions to trade and transit corridors. Uzbekistan has expanded economic and infrastructure cooperation with Afghanistan in recent years, making border stability a strategic priority for both the country and the wider region. Exchanges of fire lasted more than two hours. Clashes were reported in the Afghan provinces of Khost, Paktia, and Nuristan, as well as near the Torkham border crossing, one of the region’s key transit routes. According to reports from Afghan sources, Afghan forces captured 19 Pakistani checkpoints during a large-scale operation and claimed that approximately 55 Pakistani soldiers were killed. Afghan authorities described the operation as a response to recent Pakistani airstrikes on Afghan territory. Kabul reported its own casualties at eight soldiers killed and 11 wounded. Within hours, Pakistan launched a counteroffensive across multiple sections of the border under an operation referred to as “Fury of Truth.” The escalation followed earlier Pakistani airstrikes in Nangarhar and Paktika provinces, which Islamabad said targeted fighters linked to Tehreek-e-Taliban Pakistan (TTP) and Islamic State-Khorasan. Pakistani officials stated that at least 70 militants were killed, while Taliban authorities asserted that civilian areas had been struck. The United Nations reported at least 13 civilian deaths and seven injuries in Nangarhar and confirmed no civilian casualties in Paktika. As tensions rose, Pakistan’s Special Representative for Afghanistan, Mohammad Sadiq, said he discussed regional security concerns with Uzbekistan’s Special Representative for Afghanistan, Ismatilla Irgashev. In a statement posted on X, Sadiq referred to reports alleging that more than 2,500 Uzbek militants are currently based in Afghanistan, describing them as one of the largest foreign militant groups operating in the country after TTP. United Nations Security Council reports have previously confirmed the presence of several armed groups in Afghanistan, including the Islamic Movement of Uzbekistan. However, independent verification of the current figures cited by Pakistani officials has not been publicly confirmed. Uzbekistan responded through diplomatic channels. Foreign Minister Bakhtiyor Saidov held separate phone conversations with Afghanistan’s Foreign Minister Mawlawi Amir Khan Muttaqi and Pakistan’s Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar. The discussions focused on preventing further escalation and preserving stability along the border. Saidov emphasized the importance of restraint and dialogue, stating that diplomatic engagement must remain the primary mechanism for addressing emerging challenges. Uzbekistan’s Ministry of Foreign Affairs later issued a formal statement expressing deep concern over the deterioration of the situation and calling for an immediate ceasefire, maximum restraint, and the resolution of disagreements through peaceful political and diplomatic means based on respect for sovereignty and territorial integrity.

1 month ago