Uzbekistan to reduce the number of documents required to obtain a loan
Banks in Uzbekistan must evaluate business not by the number of new loan products, but by the growth of the enterprises that received financing. This was stated by President Shavkat Mirziyoyev during a trip to the Kashkadarya region. Currently, 102 types of documents are requested to obtain a loan. At the same time, 53 documents are already available in information systems, and another 22 are not directly related to lending. The President […]
Uzbekistan to reduce the number of documents required to obtain a loan
Banks in Uzbekistan should evaluate their work not by the number of new loan products, but by the growth in the number of enterprises that have received financing. President Shavkat Mirziyoyev stated this during his trip to the Kashkadarya region.
Currently, 102 types of documents are required to process a loan. At the same time, 53 documents are already available in information systems, and another 22 have no direct relation to lending. The President instructed to cancel the redundant requirements.
In addition, it was noted that loans should be issued not only against collateral, but also taking into account cash flows and specific orders. Previously, such an approach was instructed to be implemented in the Andijan region by developing 20 new financial products. Now it must yield results in Kashkadarya as well.
These measures are expected to help finance initiatives in makhallas and accelerate the creation of new jobs.