Published
02/17/2025, 14:11Microfinance banks will be allowed to be established in Uzbekistan. This was reported by the press service of the Ministry of Justice.
The innovations are aimed at strengthening ties between microfinance organisations and commercial banks, as well as attracting additional financial resources, including deposits.
Microfinance banks will be able to provide banking services on certain conditions. The Law also provides for the possibility of transforming microfinance organisations into microfinance banks and vice versa.
The Central Bank of Uzbekistan will issue licences for microfinance banks. Amendments to the Laws ‘On Banks and Banking Activities’ and ‘On Licensing, Permitting and Notification Procedures’ create flexible conditions for changing the status of credit institutions. The law will come into force after its official publication.
