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

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;

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