Regulatory Alerts2007-10-22 | 23/1Added · Updated
Guidelines on Maintaining Accounting Records in Microcredit Organizations
The Central Bank of Uzbekistan approved mandatory rules for accounting and financial reporting in microcredit organizations, requiring the use of specific account plans, general and auxiliary ledgers, and standardized forms for cash and credit operations. The regulation mandates daily recording of transactions, strict internal control over cash movements, and specific procedures for correcting accounting errors and calculating interest on microcredits and microloans. These guidelines apply to all microcredit organizations operating in Uzbekistan and supersede previous directives regarding non-bank credit institutions.
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