of July 23, 2019 No. PP-4400
About measures for increase in availability of microfinancial services
Note that the taken measures for enhancement of the legal basis and simplification of allowing procedures for the organization of activities of non-bank credit institutions, and also on involvement of commercial banks in process of microfinancing promoted considerable expansion of amounts of rendering microfinancial services in the republic.
At the same time the international experience of regulation of the sphere of microfinancing testifies to need of expansion of capacity of credit institutions for satisfaction of the growing requirement of the population and subjects of entrepreneurship in microfinancial services.
With respect thereto, improvement of the legislation, implementation of the best the practician of microfinancing, including possibility of remote servicing, expansion of line of the rendered services, the prevention of formation of excessive debt load of the population, increase in financial literacy of the population, financial availability and consumer protection of these services shall become the urgent areas of work on further enhancement of the sphere of microfinancing in the republic at the present stage.
For the purpose of creating favorable conditions for further development of the sphere of microfinancing, and also according to the tasks determined by the Presidential decree of the Republic of Uzbekistan of January 8, 2019 No. UP-5614 "About Additional Measures for Ensuring Further Development of Economy and Increase in Efficiency of Economic Policy":
1. Take into consideration that technical assistance of the World Bank in development of National strategy of increase in the financial availability (further - National strategy) providing components of expansion of availability of financial services, increase in financial literacy of the population and subjects of entrepreneurship, consumer protection of financial services taking into account the best international practices in this sphere is attracted with the Central bank of the Republic of Uzbekistan.
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