Microsoft Word Microfinance development in Uzbekistan Eng doc

IV. Regulatory acts of the Central Bank of Uzbekistan
1. The procedure for insurance (including insurance of collateral, provided for loans to small businesses) of 
private entrepreneurs and small businesses approved by Resolution №292 of the Cabinet of Ministers adopted 26 
July 1995 «Оn the issues of organization and activities of Madad agency ». 
2. The statute for commercial bank microcrediting in soums and foreign currency of individual entrepreneurs 
and small farmers without legal entity status, is registered under № 902 by the Ministry of Justice on 29 February, 
2000. 

---

25
3. The statute for commercial bank microcrediting in soums and foreign currency of individual entrepreneurs 
and small farmers with legal entity status, is registered under № 903 by the Ministry of Justice on 29 February, 
2000. 
4. The statute for commercial bank credit policy is registered under № 905 by the Ministry of Justice on 2 
March, 2000. 
5. The statute for commercial bank credit records is registered under № 906 by the Ministry of Justice on 2 
March, 2000. 
6. The statute for commercial bank crediting of farmers and subjects of small businesses in soums is registered 
under № 907 by the Ministry of Justice on 7 March, 2000. 
7. The statute for commercial bank crediting of individual entrepreneurs and small businesses through credit 
lines of non-budgetary funds (new edition) is registered under № 905 by the Ministry of Justice on 2 March, 2000. 
8. The statute for commercial bank crediting of household based businesses from the credit line of the 
Employment Fund is registered under № 1146 by the Ministry of Justice on 3 June, 2002. 
9. The statute for pawn shop operations is registered under № 905 by the Ministry of Justice on 2 March, 2000. 
Basic statutory acts that regulate bank operations in microcrediting include: 
• The statute for commercial bank microcrediting in soums and foreign currency of 
individual entrepreneurs and small farmers without legal entity status is registered 
under № 902 by the Ministry of Justice on 29 February, 2000. 
• The statute for commercial bank microcrediting in soums and foreign currency of 
individual entrepreneurs and small farmers with legal entity status is registered under 
№ 903 by the Ministry of Justice on 29 February, 2000. 
• Resolution №104 of the Cabinet of Ministers «On additional measures for reform of 
banking system» adopted 24 March 2000. 
• Resolution №195 of the Cabinet of Ministers «On additional measures to encourage 
the involvement of commercial banks in development of private entrepreneurship » 
adopted 19 May 2000. 
The distinction between bank microcredit and traditional microcredit is in the various 
amounts of microcredit (USD 3,000 in NGO-MFOs); preferential interest rates (NGO-MFOs 
microcredit rates are not subsidized); the requirement of collateral and the procedures for 
preparing loan documentation (loan documentation of the banks is identical to other types of 
bank loans while in NGO-MFOs it is more simplified.)