Regulatory Alerts2002-04-28 | 6/1Added · Updated
Approval of the Regulation on the Procedure for Commercial Banks to Lend to Housing Property Owners' Associations in National Currency
The Central Bank of Uzbekistan approved the Regulation governing the procedure for commercial banks to provide loans in national currency to private housing property owners' associations (HPOAs) for roof repairs, engineering communication overhauls, equipment purchases, and landscaping. The rules mandate that loans be granted based on comprehensive risk assessment, collateral (such as property pledges, third-party guarantees, or insurance), and approved capital repair plans. Banks are required to monitor fund usage, verify work volumes, and enforce repayment through direct deduction from accounts or seizure of liquid assets if obligations are not met.
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