Amendments to the Guidance on Accounting Procedures for Non-Bank Credit Organizations

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on October 24, 2022, registration number 3263-1

Date of Entry into Force

October 24, 2022

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[OKONZ:

1.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.20.00.00 Establishment, Reorganization and Liquidation of Banks and Credit Organizations. Licensing of Banking and Credit Activities. Permitting Procedures]

[TSZ:

1. Finance / Banks and Other Credit Institutions. Credits]

Resolution of the Board of the Central Bank of the Republic of Uzbekistan

On Amendments to the Guidance on Accounting Procedures for Non-Bank Credit Organizations

[Registered by the Ministry of Justice of the Republic of Uzbekistan on October 24, 2022, registration number 3263-1]

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Non-Bank Credit Organizations and Microfinance Activities," the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments shall be made to the [Guidance](/docs/4910477?ONDATE=30.06.2020 00#4912970) on Accounting Procedures for Non-Bank Credit Organizations, approved by Resolution No. 15/9 of the Board of the Central Bank of the Republic of Uzbekistan dated June 27, 2020 (registration number 3263, June 30, 2020) (National Database of Legal Acts, June 30, 2020, No. 10/20/3263/1100), in accordance with the Appendix.

2. This resolution enters into force from the date of its official publication.

Chairman M. NURMURATOV

Tashkent city,

October 5, 2022,

No. 21/7

APPENDIX

to Resolution No. 21/7 of the Board of the Central Bank of the Republic of Uzbekistan dated October 5, 2022

Amendments to be made to the Guidance on Accounting Procedures for Non-Bank Credit Organizations

1. The [Preamble](/docs/4910477?ONDATE=30.06.2020 00#4912976) shall be stated in the following edition:

"This Guidance establishes the procedure for accounting and organization of accounting work for microfinance organizations, pawnshops, and mortgage refinancing organizations (hereinafter in the text referred to as non-bank credit organizations)."

2. The words "microcredit organizations, pawnshops, and mortgage refinancing organizations (hereinafter in the text referred to as mortgage organizations)" in [paragraph 1](/docs/4910477?ONDATE=30.06.2020 00#4912980) shall be replaced with the words "non-bank credit organizations."

3. [Paragraph 2](/docs/4910477?ONDATE=28.07.2021 00#5645121) shall be stated in the following edition:

"2. Microfinance organizations and pawnshops shall develop, approve, and apply their accounting policy in accordance with the legislation of the Republic of Uzbekistan, this Guidance, and mortgage refinancing organizations (hereinafter in the text referred to as mortgage organizations) shall develop, approve, and apply their accounting policy in accordance with the legislation of the Republic of Uzbekistan, International Financial Reporting Standards, and this Guidance, as well as establish the document circulation procedure taking into account the specifics of their activities."

4. The words "of the non-bank credit organization and the mortgage organization" in [paragraph 3](/docs/4910477?ONDATE=30.06.2020 00#4912983) shall be replaced with the words "of the non-bank credit organization."

5. The word "Microcredit" in the [title](/docs/4910477?ONDATE=30.06.2020 00#4913109) of Chapter 3, [paragraph 35](/docs/4910477?ONDATE=30.06.2020 00#4913149), the [first line](/docs/4910477?ONDATE=30.06.2020 00#4913240) of paragraph 60, and [paragraphs 76](/docs/4910477?ONDATE=30.06.2020 00#4913363) and [92](/docs/4910477?ONDATE=30.06.2020 00#4913444) shall be replaced with the word "Microfinance."

6. [Paragraphs 27](/docs/4910477?ONDATE=30.06.2020 00#4913114), [38](/docs/4910477?ONDATE=30.06.2020 00#4913153), [40](/docs/4910477?ONDATE=30.06.2020 00#4913159), [97](/docs/4910477?ONDATE=30.06.2020 00#4913460), and [100](/docs/4910477?ONDATE=30.06.2020 00#4913477) shall be considered lost of force.

7. [Paragraph 33](/docs/4910477?ONDATE=30.06.2020 00#4913145) shall be stated in the following edition:

"33. On the date of signing a credit (including microcredit, microloan, leasing) contract between the microfinance organization, the pawnshop, and the client, a credit account is opened for the client."

8. The word "microcredit" in [paragraph 36](/docs/4910477?ONDATE=30.06.2020 00#4913151) shall be replaced with the word "microfinance."

9. The number "55995" in the [fourth line](/docs/4910477?ONDATE=30.06.2020 00#4913273) of paragraph 68 shall be replaced with the number "55996."

10. The [title](/docs/4910477?ONDATE=30.06.2020 00#4913428) of paragraph 6 and the word "microleasing" in [paragraph 94](/docs/4910477?ONDATE=30.06.2020 00#4913449) shall be replaced with the word "leasing."

11. The words "to microleasing" and "Microleasing" in [paragraph 89](/docs/4910477?ONDATE=28.07.2021 00#5645136) shall be replaced with the words "to leasing" and "Leasing," respectively.

12. The words "To Microleasing" and "microleasing" in [paragraph 90](/docs/4910477?ONDATE=30.06.2020 00#4913436) shall be replaced with the words "To Leasing" and "leasing," respectively.

13. In [paragraph 91](/docs/4910477?ONDATE=30.06.2020 00#4913439):

the words "microleasing" in the [first line](/docs/4910477?ONDATE=30.06.2020 00#4913439) shall be replaced with the words "leasing";

the word "Microleasing" in the [second line](/docs/4910477?ONDATE=30.06.2020 00#4913442) shall be replaced with the word "Leasing."

14. The words "to microleasing" and "microleasing" in [paragraph 92](/docs/4910477?ONDATE=30.06.2020 00#4913444) shall be replaced with the words "to leasing" and "leasing," respectively.

15. In [paragraph 95](/docs/4910477?ONDATE=30.06.2020 00#4913452):

the words "Microleasing" and "microleasing" in the [first line](/docs/4910477?ONDATE=30.06.2020 00#4913452) shall be replaced with the words "Leasing" and "leasing," respectively;

the words "microleasing" in the [second line](/docs/4910477?ONDATE=30.06.2020 00#4913454) shall be replaced with the words "leasing."

16. The words "Microleasing" and "microleasing" in [paragraph 96](/docs/4910477?ONDATE=30.06.2020 00#4913457) shall be replaced with the words "Leasing" and "leasing," respectively.

17. The words "Microleasing" in [paragraph 98](/docs/4910477?ONDATE=30.06.2020 00#4913463) shall be replaced with the words "Leasing."

18. The words "is carried out" in [paragraph 101](/docs/4910477?ONDATE=30.06.2020 00#4913479) shall be replaced with the words "is transferred."

19. The words "organization and mortgage" shall be deleted from [paragraph 146](/docs/4910477?ONDATE=30.06.2020 00#4913650).

20. In [Appendix 1](/docs/4910477?ONDATE=30.06.2020 00#4913873):

a) the word "microcredit" in [paragraph 3](/docs/4910477?ONDATE=28.07.2021 00#5645153) shall be replaced with the word "microfinance";

b) in [Chapter 2](/docs/4910477?ONDATE=30.06.2020 00#4914024):

the word "Microleasing" in codes [15600](/docs/4910477?ONDATE=30.06.2020 00#4914816), [15607](/docs/4910477?ONDATE=30.06.2020 00#4914818), [15699](/docs/4910477?ONDATE=30.06.2020 00#4914824), [16323](/docs/4910477?ONDATE=30.06.2020 00#4914871), [45100](/docs/4910477?ONDATE=30.06.2020 00#4915780), [45105](/docs/4910477?ONDATE=30.06.2020 00#4915781), and [56838](/docs/4910477?ONDATE=30.06.2020 00#4915998) shall be replaced with the word "Leasing";

the word "microleasing" in codes [15617](/docs/4910477?ONDATE=30.06.2020 00#4914820), [15619](/docs/4910477?ONDATE=30.06.2020 00#4914822), [15709](/docs/4910477?ONDATE=30.06.2020 00#4914833), [45117](/docs/4910477?ONDATE=30.06.2020 00#4915784), [45119](/docs/4910477?ONDATE=30.06.2020 00#4915789), and [45121](/docs/4910477?ONDATE=30.06.2020 00#4915791) shall be replaced with the word "leasing";

c) in [Chapter 3](/docs/4910477?ONDATE=30.06.2020 00#4916130):

1. the word "microcredit" in the [second line](/docs/4910477?ONDATE=30.06.2020 00#4916963) of code 12599, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4917030) of code 13201, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4917040) of code 13205, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4917049) of code 13209, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4917058) of code 13299, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4918901) of code 15401, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4918906) of code 15405, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4918912) of code 15499, and the [third line](/docs/4910477?ONDATE=30.06.2020 00#4919669) of code 16575 shall be replaced with the word "microfinance";

2. the word "Microleasing" in codes [15600](/docs/4910477?ONDATE=30.06.2020 00#4918942), [45100](/docs/4910477?ONDATE=30.06.2020 00#4922018), [45105](/docs/4910477?ONDATE=30.06.2020 00#4922019), and [56838](/docs/4910477?ONDATE=30.06.2020 00#4923103) shall be replaced with the word "Leasing";

3. in code [15607](/docs/4910477?ONDATE=30.06.2020 00#4918943):

the word "Microleasing" in the [first line](/docs/4910477?ONDATE=30.06.2020 00#4918943) shall be replaced with the word "Leasing";

the word "microleasing" in the [second](/docs/4910477?ONDATE=30.06.2020 00#4918944), [third](/docs/4910477?ONDATE=30.06.2020 00#4918945), and [fifth lines](/docs/4910477?ONDATE=30.06.2020 00#4918947) shall be replaced with the word "leasing";

4. the word "microleasing" in codes [15617](/docs/4910477?ONDATE=30.06.2020 00#4918948), [15619](/docs/4910477?ONDATE=30.06.2020 00#4918959), [15709](/docs/4910477?ONDATE=30.06.2020 00#4918997), the [second](/docs/4910477?ONDATE=30.06.2020 00#4920722) and [third lines](/docs/4910477?ONDATE=30.06.2020 00#4920723) of code 16701, the [second line](/docs/4910477?ONDATE=30.06.2020 00#4920727) of code 16707, and codes [45117](/docs/4910477?ONDATE=30.06.2020 00#4922020) and [45119](/docs/4910477?ONDATE=30.06.2020 00#4922021) shall be replaced with the word "leasing";

5. in code [15699](/docs/4910477?ONDATE=30.06.2020 00#4918974):

the word "Microleasing" in the [first line](/docs/4910477?ONDATE=30.06.2020 00#4919301) shall be replaced with the word "Leasing";

the word "microleasing" in the [second](/docs/4910477?ONDATE=30.06.2020 00#4918975) and [fifth lines](/docs/4910477?ONDATE=30.06.2020 00#4918981) shall be replaced with the word "leasing";

6. in code [16323](/docs/4910477?ONDATE=30.06.2020 00#4919301):

the word "Microleasing" in the [first line](/docs/4910477?ONDATE=30.06.2020 00#4919301) shall be replaced with the word "Leasing";

the word "microleasing" in the [second line](/docs/4910477?ONDATE=30.06.2020 00#4919303) shall be replaced with the word "leasing";

7. in code [45121](/docs/4910477?ONDATE=30.06.2020 00#4922022):

the word "microleasing" in the [first line](/docs/4910477?ONDATE=30.06.2020 00#4922022) shall be replaced with the word "leasing";

the word "microleasing" in the [third line](/docs/4910477?ONDATE=30.06.2020 00#4922025) shall be replaced with the word "leasing";

8. code [55995](/docs/4910477?ONDATE=30.06.2020 00#4922849) shall be stated in the following edition:

"55996 Other Interest-Free Expenses";

9. the words ", as well as interest accrued on loans and leases transferred to the status of 'not accruing interest'" shall be deleted from the [second line](/docs/4910477?ONDATE=30.06.2020 00#4923157) of code 91501.

(October 24, 2022, No. 10/22/3263-1/0964)