Microsoft Word Microfinance development in Uzbekistan Eng doc

SECTION 2. ESTABLISHMENT AND OPERATIONS OF MICRO-CREDIT 
ORGANIZATIONS
Article 6. Forms of Micro-credit Organizations
Micro-credit organization in the territory of the Republic of Uzbekistan may be set up 
in the following forms: 
• Micro-credit organizations entitled to accept individual deposits; 
• Micro-credit organization not entitled to accept deposits; 
• Non-profit micro-credit organization. 
Article 7. Setting up Micro-credit Organizations
Micro-credit organizations shall be set up by legal entities and/or individuals 
including foreign entities, other than government bodies, political parties, trade unions and 
religious organizations. 
Micro-credit organizations shall be registered by the authorities in conformity with 
the legislation regulating the procedure for state registration of legal entities. 

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Micro-credit organizations entitled to accept individual deposits shall be granted the 
right to launch operations after being issued the appropriate license from the Central Bank. 
Micro-credit organizations not entitled to accept deposits and non-profit microfinance 
organization shall be granted the right to launch operations after being issued the appropriate 
registration certificate from the Central Bank. 
Micro-credit organizations may be commercial or non-profit institutions. 
Commercial micro-credit organizations may be established in the form of a joint-
stock company or a limited liability company. 
Non-profit micro-credit organizations may be established in the form of a public 
association, public foundation, institution, and other forms stipulated in the Law on “Non-
government Non-profit Organizations”. 
Micro-credit organizations shall not be entitled to engage in manufacturing, trade, and 
dealership activities.