Microsoft Word Microfinance development in Uzbekistan Eng doc

Ш. REGISTRATION FEE
10. For state registration of microcredit organization with right to attract the deposits of 
the population, the fee at a rate of one minimum wage established by the legislation is 
collected. 
The amount of fee for consideration of the application is paid into the separate account 
of the Central bank. 
11. In case of repudiation of the applicant for state registration from sent application 
during the period of consideration of his/her documents, the amount of the paid fee is not 
reimbursed. 

---

60
12. In case of refusal in state registration of microcredit organization with right to 
attract the deposits of the population, the paid registration fee is reimbursed by the Central 
bank within 3 days. 
IV. QUALIFICATION REQUIREMENTS FOR THE HEAD OF MICROCREDIT 
ORGANIZATION WITH RIGHT TO ATTRACT THE DEPOSITS OF THE POPULATION 
13. The following qualification requirements are set for the head of microcredit 
organization with right to attract the deposits of the population: 
higher education; 
work experience of not less than 3 years in a financial sector; 
stainless business reputation. 
14. The following persons are considered as not having stainless business reputation for 
the purposes of the present Statute: 
persons disqualified to occupy some or another positions at the enterprises, in 
institutions or organizations during the period established by court; 
former heads and members of councils, executive boards, credit committees or audit 
commissions of credit and finance organizations if it is established by court that the 
bankruptcy of that organizations has followed as a result of illegal actions of these persons; 
persons whose actions have brought financial losses and damage of business reputation 
of other credit and finance organizations if it is established by court.