Document increasing microfinance availability approved 

President Shavkat Mirziyoyev signed a decree “On measures to increase the availability of microfinance services”.

Reportedly, from August 1, the following new order will be established:

- the maximum amount of microloans is increased up to 50 million soums, microcredit - up to 300 million soums, microleasing -  up to 600 million soums;

- the period for consideration of an application for issuing a license for the right to carry out the activities of microcredit organizations and pawnshops is reduced from 30 days to 15 working days ;

- microcredit organizations independently determine the percentage of all trust loans to their formed statutory fund;

- microcredit organizations, created in the form of a JSC, are granted the right to issue corporate bonds and place them exclusively among legal entities;

- foreign microcredit organizations are allowed to participate in the statutory fund of operating microcredit organizations in Uzbekistan.

Banks and other credit organizations are entitled to provide individuals with online loans (microloans), provided that they conduct secure data exchange and assess the borrower's creditworthiness on the basis of a scoring model.