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RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of May 6, 2006 No. 78

About measures for the organization of activities and strengthening of material and technical resources of Mikrocreditbank joint stock bank

(The last edition from 26-10-2018)

In pursuance of the Presidential decree of the Republic of Uzbekistan of May 5, 2006 "About creation of Mikrocreditbank joint stock bank and for the purpose of providing the organization of its effective activities and strengthening of material and technical resources the Cabinet of Ministers decides NUP-3750:

1. Approve Regulations on procedure for provision of the microcredits and rendering microleasing services according to appendix.

2. Determine the main objectives of the Supervisory board of Mikrocreditbank:

forming of the long-term policy of bank directed to improvement of quality and availability of the services in microcredit and microleasing provided to subjects of entrepreneurship;

control of activities of bank, including of implementation and effective functioning of the credit granting system and investment of means providing depositor protection and shareholders;

implementation of supervision of condition of corporate management in bank and activities of its Board;

maintenance of adequate capitalization, bank liquidity at the level sufficient for accomplishment of the tasks assigned to it and timely obligation fulfillment;

forming of effectively functioning branch network and minibanks, especially in the rural zone.

3. To Mikrocreditbank to create special Group of monitoring on recoverability and control of target use of the microcredits in structure of central office.

Determine the main objectives of Group of monitoring:

implementation of the systematic deep analysis of effective use of microborrowing facilities;

coordination of work on microfinancing in regional departments, carrying out monitoring and objective assessment of condition of credit portfolio according to parameters of the business plan and condition of providing on the microcredits;

acceptance of necessary measures for increase in level of recoverability of the microcredits, to non-admission of overdue debt on them.

4. To the supervisory board and Board of Mikrocreditbank:

in week time to prepare and provide to the Central bank of the Republic of Uzbekistan necessary document package for registration and receipt of the license for the right of implementation of banking activity in the procedure established by the legislation;

in ten-day time to develop and approve structure and the staff list of bank and its branches, proceeding from need of effective implementation of the tasks assigned to it;

to carry out complete employee assessment of bank to two-month time;

perform completion of central office of bank and its branches by the highly qualified specialists having work experience in divisions of banks and in the sphere of microfinancing.

5. Determine that the chairman of the board of Mikrocreditbank is appointed and dismissed by the decision of the Cabinet of Ministers of the Republic of Uzbekistan.

6. Take into consideration that the special commission formed by the order of the Cabinet of Ministers of April 17, 2006 No. 165-f carries out complex inventory count of property of JSB Tadbirkor, security of its branches and mini-banks with the equipment, computer facilities and means of communication is studied, offers on strengthening of material and technical resources are prepared.

To Council of Ministers of the Republic of Karakalpakstan and khokimiyats of areas in three-months time to realize specific measures for strengthening of material and technical resources of branches and mini-banks of Mikrocreditbank, especially in rural districts.

7. To provide to banking association of Uzbekistan and Bank and financial academy the organization during 2006-2008 of special rates on microfinancial services for specialists of Mikrocreditbank without collection of tuition fee.

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