PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of March 21, 2000 No. UP-2564

About measures for further liberalization and reforming of bank system

For the purpose of further liberalization and reforming of bank system, increase in independence of commercial banks and their transformation into active participants of investment processes, expansion of crediting Dehkan, farms and subjects of small business, strengthening of depositor protection of banks, and also forming of mutually advantageous partnership between banks and their clients, cooperation increases with foreign banks:

1. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 12.09.2017 No. UP-5189

2. Consider the most important tasks of commercial banks use of all opportunities for permanent increase in equity and amounts of the raised funds, taking into account experience of foreign banks, and also expansion of forms, types and amount of crediting of real production sector, first of all small business.

For the purpose of stimulation of activities of commercial banks for increase in own resources directed to financing of development of small business:

agree with the offer of the Central bank of the Republic of Uzbekistan on introduction since April 1, 2000 of the mechanism of establishment of floating rate of Central Bank refinancing with its monthly adjustment, proceeding from dynamics of the rate of inflation, the demand and supply in the money market;

taking into account dynamics of refunding rate of the Central bank to recommend to the commercial banks to reduce loan interest rates provided to production microfirms, small enterprises;

consider expedient establishment by commercial banks of interest rates for the attracted term deposits (deposits) of physical persons in the amount of at least 75 percent, and legal entities - at least 50 percent from effective rate of Central Bank refinancing when preserving invariable interest rate for already attracted deposits during all effective period of the deposit agreement.

3. Recommend to the Central bank of the Republic of Uzbekistan and commercial banks in a month:

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