On March 17, 2022, the Senate of the Oliy Majlis of the Republic of Uzbekistan approved the Law “On non-banking credit organizations and microfinance activities”.
The law provides procedure for the establishment and commencement of non-banking credit institutions, the types of permitted and prohibited activities, the basis for protecting the rights of consumers of microfinance institutions and pawnshops, as well as the system of regulation and supervision of non-bank credit institutions.
In general, this Law will contribute to the creation of favorable conditions for the formation and development of non-bank credit organizations.
This Law will come into force after the signing of the President of the Republic of Uzbekistan.
The Law “On non-banking credit organizations and microfinance activities” was approved
Update date:
17 Mar 2022, 16:49
