On Amendments and Additions to the Instruction on the Procedure for Accounting in Non‑Bank Credit Organizations

Decision of the Management of the Central Bank of the Republic of Uzbekistan, registered on 01.05.2024, registration number 3263-2

Effective date

02.05.2024

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OKOZ:

1.21.00.00.00 Complex‑type documents for amendment and addition / 21.04.00.00 Framework normative‑legal documents

TSZ:

1. State and society building / Legislative initiative. Norm creation activity

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Decision of the Management of the Central Bank of the Republic of Uzbekistan

On Amendments and Additions to the Instruction on the Procedure for Accounting in Non‑Bank Credit Organizations

[Registered by the Ministry of Justice of the Republic of Uzbekistan on 1 May 2024, registration number 3263-2]

In accordance with the Law of the Republic of Uzbekistan “On the Central Bank of the Republic of Uzbekistan”, the Management of the Central Bank of the Republic of Uzbekistan decides:

1. That the Instruction on the Procedure for Accounting in Non‑Bank Credit Organizations, as approved by the Management of the Central Bank of the Republic of Uzbekistan on 27 June 2020 (Decision No. 15/9, registration number 3263, dated 30 June 2020) (National Database of Legislative Documents, 30.06.2020, 10/20/3263/1100), together with its annex, shall be amended and supplemented.
2. This decision shall enter into force as of the day it is officially announced.

Chairman M. NURMURATOV

Tashkent,

13 April 2024,

11/3

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Annex to the Decision of the Management of the Central Bank of the Republic of Uzbekistan dated 13 April 2024, No. 11/3

Amendments and Additions to the Instruction on the Procedure for Accounting in Non‑Bank Credit Organizations

1. In paragraph 44 the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «балансдан ташқари».
2. In paragraphs 99 and 137 the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «балансдан ташқари».
3. In the first sub‑paragraph of article 45 the words «Кўзда тутилмаган ҳолатлар» shall be removed.
4. Article 46 shall be amended to read as follows:

46. When a payment is made by the client on assets written off from the account, the amounts shall be reflected in the corresponding income accounts.

If the amount of the payment is insufficient to fulfill the obligations arising from a micro‑loan or credit granted to an individual borrower or a borrowing entrepreneurial entity, the borrower’s debt shall be covered in the following order:

1. overdue principal debt and overdue interest payments proportionally;
2. interest accrued for the current period and principal debt for the current period;
3. penalty (fine, penalty interest);
4. other expenses of the creditor related to the debt collection.

5. Article 48 shall be amended to read as follows:

48. If the proceeds from the sale of pledged or accepted collateral are insufficient to fulfill the obligations arising from a micro‑loan or credit granted to an individual borrower or a borrowing entrepreneurial entity, the borrower’s debt shall be covered in the following order:

1. overdue principal debt and overdue interest payments proportionally;
2. interest accrued for the current period and principal debt for the current period;
3. penalty (fine, penalty interest);
4. other expenses of the creditor related to the debt collection.

6. In Annex 1:

   a) Chapter 1:

   1. In items 8, 12 and 14 the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «Балансдан ташқари ҳисобварақлар».
   2. In item 15 the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «Балансдан ташқари».

   b) Chapter 2:

   1. The balance‑sheet account 12409 “Short‑term loans (micro‑loans) granted to individuals (terms revised)” shall be followed by a new balance‑sheet account 12411 with the description “Short‑term loans (micro‑loans) granted to self‑employed individuals”.
   2. The balance‑sheet account 14809 “Long‑term loans (micro‑loans) granted to individuals (terms revised)” shall be followed by a new balance‑sheet account 14811 with the description “Long‑term loans (micro‑loans) granted to self‑employed individuals”.
   3. The balance‑sheet account 16377 “Accrued interest (overdue)” shall be followed by a new balance‑sheet account 16399 with the description “Reserve for covering possible losses – accrued interest to be received (contra‑asset)”.
   4. The balance‑sheet account 56838 “Assessment of possible losses – Leasing (financial lease)” shall be followed by a new balance‑sheet account 56839 with the description “Assessment of possible losses – accrued interest to be received”.
   5. In the off‑balance‑sheet account 90000 the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «Балансдан ташқари ҳисобварақлар».
   6. In the off‑balance‑sheet account 92806 “Timed agreements on the sale of securities” the following two off‑balance‑sheet accounts shall be added:
   • 93600 “Securities and other valuable items held for safekeeping”
   • 93609 “Other valuable items held for safekeeping”
   7. In the off‑balance‑sheet accounts 95400, 95497, 96300, and 96397 the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «балансдан ташқари».
   8. In the off‑balance‑sheet account 96300 “Contra‑accounts for off‑balance‑sheet items ‘Кўзда тутилмаган ҳолатлар’” the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «Балансдан ташқари».
   9. In the off‑balance‑sheet account 96376 “Contra‑account for timed agreements on the sale of securities” the following off‑balance‑sheet account shall be added after the amendment:
   • 96379 “Contra‑account for securities and other valuable items held for safekeeping”.

   c) Chapter 3:

   1. The description of the balance‑sheet account 12405 “Overdue loans (micro‑loans) granted to individuals” shall be amended to read:

   Definition of the account: The account reflects the amount of short‑term and long‑term loans (micro‑loans) granted to individuals, including self‑employed individuals, that have not been repaid within the stipulated period.

   In the debit side, the amount of loans (micro‑loans) that have been re‑classified from accounts 12401, 12409, 12411, 14801, 14809, 14811 and transferred to this account for individuals, including self‑employed individuals, is reflected.

   In the credit side, the amount transferred from reserve account 12499 for covering possible losses on loans (micro‑loans) is reflected.

   Analytical accounting is carried out in separate personal accounts for each borrower according to the terms of the loan (micro‑loan) contracts.

   2. The description of the balance‑sheet account 12409 “Short‑term loans (micro‑loans) granted to individuals (terms revised)” shall be amended to read:

   Definition of the account: The account reflects short‑term loans (micro‑loans) granted to individuals, including self‑employed individuals, whose main terms have been revised in accordance with the loan (micro‑loan) contract and any supplementary agreement.

   In the debit side, the amount of re‑classified loans transferred from accounts 12401, 12405 and 12411 to this account for individuals, including self‑employed individuals, is reflected.

   In the credit side, the amount of micro‑loans transferred from reserve account 12499 for covering possible losses is reflected.

   Analytical accounting is carried out in separate personal accounts for each borrower according to the terms of the loan (micro‑loan) contracts.

   3. After the description of the balance‑sheet account 12409, the following balance‑sheet account 12411 shall be added:

   12411 “Short‑term loans (micro‑loans) granted to self‑employed individuals”

   Definition of the account: The account reflects loans (including overdrafts and other operations) granted to self‑employed individuals for a period of up to one year.

   In the debit side, the amount of the granted loans is reflected.

   In the credit side, the amount of repaid or otherwise re‑classified loans is reflected.

   Analytical accounting is carried out in separate personal accounts for each borrower according to the loan contracts.

   4. In the second sub‑paragraphs of the balance‑sheet accounts 12499 and 14899, after the words “individuals” the phrase “, including self‑employed individuals” shall be inserted.
   5. The description of the balance‑sheet account 14809 “Long‑term loans (micro‑loans) granted to individuals (terms revised)” shall be amended to read:

   Definition of the account: The account reflects long‑term loans (micro‑loans) granted to individuals, including self‑employed individuals, whose main terms have been revised in accordance with the loan (micro‑loan) contract and any supplementary agreement.

   In the debit side, the amount of re‑classified loans transferred from accounts 14801, 14811 and 12405 to this account for individuals, including self‑employed individuals, is reflected.

   In the credit side, the amount of loans transferred from reserve account 14899 “Reserve for covering possible losses – long‑term loans (micro‑loans) to individuals (contra‑asset)” is reflected.

   Analytical accounting is carried out in separate personal accounts for each borrower according to the loan contracts.

   6. After the description of the balance‑sheet account 14809, the following balance‑sheet account 14811 shall be added:

   14811 “Long‑term loans (micro‑loans) granted to self‑employed individuals”

   Definition of the account: The account reflects loans (including other operations) granted to self‑employed individuals for a period exceeding one year from the date of granting.

   In the debit side, the amount of the granted loans is reflected.

   In the credit side, the amount of repaid or otherwise re‑classified loans is reflected.

   Analytical accounting is carried out in separate personal accounts for each borrower according to the loan contracts.

   7. After the description of the balance‑sheet account 16377, the following balance‑sheet account 16399 shall be added:

   16399 “Reserve for covering possible probable losses – accrued interest on loans (micro‑loans) and leasing (contra‑asset)”

   Definition of the account: The reserve account is created to cover possible losses arising from accrued interest on loans and leasing that could not be received.

   In the credit side, the assessment amount of the reserve and/or its increase is reflected.

   In the debit side, the decrease of the reserve and/or its cancellation is reflected.

   Analytical accounting of the created reserves is carried out in separate personal accounts.

   8. In the third and fourth sub‑paragraphs of the off‑balance‑sheet account 30909, as well as in accounts 95400, 95497, 96300, and 96397, the words «кўзда тутилмаган ҳолатлар» shall be replaced with the words «балансдан ташқари».
   9. After the description of the off‑balance‑sheet account 56838 “Assessment of possible losses – Leasing (financial lease)”, the following balance‑sheet account 56839 shall be added:

   56839 “Assessment of possible losses – accrued interest to be received”.

   10. In the off‑balance‑sheet account 90000, the words «Кўзда тутилмаган ҳолатлар» shall be replaced with the words «Балансдан ташқари ҳисобварақлар».
   11. After the description of the off‑balance‑sheet account 92806 “Timed agreements on the sale of securities”, the following two off‑balance‑sheet accounts shall be added with the indicated names and descriptions:
   • 93600 “Securities and other valuable items held for safekeeping”
   • 93609 “Other valuable items held for safekeeping”

   The account description: The account records the accounting of securities and other valuable items held for safekeeping. Items accepted for safekeeping are valued at a conditional price of 1 soum per unit. For this account, a contra‑off‑balance‑sheet account 96379 is considered.

   In the debit side, the conditional value of the securities and other documents accepted for safekeeping is reflected.

   In the credit side, the value of securities and other documents removed from the account in accordance with the owners’ rights is reflected.

   Analytical accounting of securities, valuable items and documents is carried out in separate personal accounts.

   12. After the description of the off‑balance‑sheet account 96376 “Contra‑account for timed agreements on the sale of securities”, the following off‑balance‑sheet account 96379 shall be added:

   96379 “Contra‑account for securities and other valuable items held for safekeeping”.

(02.05.2024, 10/24/3263-2/0319)
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