Microsoft Word Microfinance development in Uzbekistan Eng doc

STATUTE 
ON THE PROCEDURE OF ISSUANCE OF THE REGISTRATION CERTIFICATE FOR 
MICRO-CREDIT ORGANIZATIONS WITHOUT THE RIGHT TO ACCEPT DEPOSITS 
FROM THE POPULATION AND NONCOMMERCIAL MICRO-CREDIT 
ORGANIZATIONS 
 
This Statute is drafted in accordance with the Law of the Republic of Uzbekistan “On 
the Central Bank of the Republic of Uzbekistan” and determines the procedure of issuance of 
the registration certificate for micro-credit organizations without the right of attracting 
deposits from the population and noncommercial micro-credit organizations (hereafter – 
micro-credit organizations).
I.GENERAL PROVISIONS 
1. The micro-credit organization means a specialized credit institution set up in line 
with the organizational and legal form envisaged by legislation, which holds the Central 
Bank's certificate on registration and exercises micro-crediting and provision of micro-
leasing as well as performs consulting cervices to a certain category of legal entities and 
natural persons at the expense of its own means, funds from private donors and donor 
organizations, local and international financial institutes and other legal entities only and 
without the right of attracting deposits of the population.
The non-commercial micro-credit organization is not entitled to distribute income 
from its activity among its founders and partners and allocates it for implementation of its 
statutory objectives.
2. The micro-credit organizations obtain the right for microfinancing activity from the 
moment of their registration.
Registration of micro-credit organizations is exercised by the Central Bank of the 
Republic of Uzbekistan.
II. DOCUMENTS SUBMITTED FOR REGISTARTION 
3. The following documents are to be submitted to the Central Bank for registration:
a) the application for registration to exercise the activity of the micro-credit 
organization; 
b) the protocol of the founders’ general meeting on establishing a micro-credit 
organization, (in case of more than one founder); 
c) the statute or provisions of the micro-credit organization; 
d) a business-plan of the micro-credit organization’s activity; 
e) the list of founders with indication
- for individuals: 

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surname, first name, middle name, passport number, post code of home address 
and telephone numbers. 
- for legal entities: 
full name, postal address and telephone numbers and bank accounts.
f) information confirming the presence of equipped cash offices to ensure the safety 
of ready cash. Technical facilities and equipped means of guard and fire-alarms 
of cash micro-credit organizations should comply with requirements under “Rules 
for exercising cash operations by legal entities” registered by the Ministry of 
Justice of the Republic of Uzbekistan on 17 December 1998 under #565.
g) Bank receipt on payment of the registration fee.
This list of documents is exhaustive. Demand for submitting other documents not 
envisaged by this Statute are not admissible.
4. Documents are submitted for registration either by the applicant directly to the 
Central Bank or its territorial branch or through post with notification of their delivery.
5. For providing false or distorted information to registration the applicant shall be 
held responsible in accordance with the Law.