RESOLUTION OF THE CABINET OF MINISTERS OF THE REPUBLIC OF UZBEKISTAN

of February 19, 2007 No. 37

About measures for further market development of microfinancial services

For the purpose of further market development of microfinancial services, the Cabinet of Ministers decides streamlinings of the mechanism of issue of licenses for the right of implementation of activities of microcredit institutions:

1. Take into consideration that according to the Law of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" licensing, regulation and supervision of activities of microcredit institutions in the territory of the republic is exercised by the Central bank of the Republic of Uzbekistan.

2. Determine that:

since April 1, 2007 in the territory of the republic implementation of activities of microcredit institutions without the corresponding license of the Central bank of the Republic of Uzbekistan is not allowed;

for consideration of the application collection in the amount of 50 percent of the basic settlement size established by the legislation on the date of filing of application is levied from the license applicant on the right of implementation of activities of microcredit institutions by the Central bank of the Republic of Uzbekistan;

for licensing for the right of implementation of activities of microcredit institutions the state fee in the amount of, established by the Law of the Republic of Uzbekistan "About the state fee" is collected.

3. To Central Bank of the Republic of Uzbekistan:

till April 1, 2007 to finish inventory count of the legal entities registered in the republic and performing activities of microcredit institutions and to grant it the corresponding license in the procedure established by the legislation;

together with Council of Ministers of the Republic of Karakalpakstan, khokimiyats of areas and Tashkent, Chamber of Commerce and Industry of the Republic of Uzbekistan to develop and approve complex of specific actions for creation and expansion of network of the microcredit institutions for 2007-2008 providing target reference points by regions in a month.

4. To the Ministry of Finance together with the State Tax Committee and the Central bank of the Republic of Uzbekistan to make corresponding changes and additions to departmental regulations regarding refining of features of the taxation of microcredit institutions in a month.

5. Ceased to be valid according to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of 25.02.2022 No. 88

6. To impose control over the implementation of this resolution on the Deputy prime minister of the Republic of Uzbekistan Azimov R. S. and the Chairman of the Central bank of the Republic of Uzbekistan Mullazhanov F. M.

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