of September 15, 2006 No. ZRU-50
About microfinancing
Accepted by Legislative house on June 21, 2006
Approved by the Senate on August 25, 2006
The purpose of this Law is regulation of the relations in the field of market development of microfinancial services, ensuring needs of citizens and subjects of entrepreneurship for financial resources and services for increase in their business activity.
The legislation on microfinancing consists of this Law and other acts of the legislation.
If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about microfinancing then are applied rules of the international treaty.
Microfinancing is organization activity, rendering microfinancial services in provision of the microcredit, microloan, microleasing, in the amount which is not exceeding the size established by the legislation and also rendering other services according to the agreement on rendering microfinancial services (further - the agreement).
The microcredit is the money provided to the borrower on implementation of business activity on the terms of the paid nature, urgency and recoverability in the amount which is not exceeding thousandfold 300 million sum.
The microcredit can be provided to the borrower on the terms of use of money on particular purposes according to the agreement (the target microcredit).
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The document ceased to be valid since April 21, 2022 according to article 42 of the Law of the Republic of Uzbekistan of April 20, 2022 No. ZRU-765