Regulatory Alerts2019-11-28 | ПФ-5886Added
On Additional Measures to Improve Mortgage Lending Mechanisms
The President of the Republic of Uzbekistan introduces a new market-based order for housing provision through mortgage loans, requiring the Ministry of Finance to place funds in commercial banks for 20 years to support lending. The decree mandates that commercial banks provide mortgages using own funds and Ministry allocations, with subsidies from the State Budget compensating part of the down payment or interest for specific low-income individuals. Construction of multi-apartment buildings in rural areas must form macro-arrays of at least 200 units, with developers selected via online auctions and land allocated through lease rights, while urban land is provided via the E-AUKSION platform.
More like this from CBU
We email you every new CBU publication the day it's published.