Division of Housing and Mortgage Market Development

Contact details

71 212 62 64

Tasks and Functions

Tasks of the division

• Development of draft decrees and resolutions of the President of the Republic of Uzbekistan, resolutions of the Cabinet of Ministers, and regulatory documents of the Central Bank concerning the provision of housing to the population through mortgage loans, project financing of shared-equity construction based on the escrow system, and financing of housing construction using credit funds;
• Maintaining records of mortgage loans allocated to the population by commercial banks and loans allocated for the construction of multi-apartment housing, as well as monitoring the compliance of banks' activities in this area with applicable legislation;
• Developing proposals and comments on draft regulatory legal acts related to the activities of management service companies, and carrying out monitoring measures on loans allocated to them;
• Cooperating with international financial institutions, ministries, and agencies to improve the financing of housing construction and the allocation of mortgage loans to the population by commercial banks.

Functions of the division

• Reviews draft decrees and resolutions of the President of the Republic of Uzbekistan, meeting minutes, and resolutions of the Cabinet of Ministers on the implementation of state housing programs, and prepares the Central Bank's proposals and comments;
• Monitors the work carried out by commercial banks and the territorial Main Departments of the Central Bank on providing housing to the population through mortgage loans, project financing of shared-equity construction based on the escrow system, and financing of housing construction using credit funds;
• Monitors the allocation of loans by commercial banks to contractor organizations in accordance with legislative acts and the bank's internal rules for financing housing construction in the "New Uzbekistan" residential areas;
• Maintains records of shareholders' funds deposited into escrow accounts, as well as loans allocated to contractor organizations under project financing, and monitors and coordinates the activities of commercial banks in this area;
• Maintains records of the mortgage loan portfolio transferred by commercial banks to the specially authorized organization under the securitization mechanism, and coordinates the timely transfer to this organization of principal and interest payments repaid by borrowers on mortgage loans transferred by commercial banks to the specially authorized organization;
• Prepares the "General Analysis of the Housing Market" review and other analytical materials aimed at covering the current state of the housing and mortgage market, advanced foreign experience, and existing risks;
• Cooperates with international financial institutions, ministries, and agencies in improving the financing of housing construction and the allocation of mortgage loans to the population by commercial banks.