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2019-12-21 | 31/1

Added 2026-08-13 · Updated 2026-09-05

On Amendments and Additions to the Regulation on Credit Allocation under the 'Every Family is an Entrepreneur' Program

Amendments to the Annex of the Regulation on Credit Allocation under the 'Every Family is an Entrepreneur' Program replace the term "commercial banks" with specific institutions (AT Halk Bank, ATB Microcreditbank, and ATB Agrobank), clarify that credits are allocated from program resources, and remove the term "preferential" across multiple paragraphs and titles. Paragraph 4 is revised to permit credits at the Central Bank’s refinancing rate or independently set market-based rates from January 1, 2021, while applying an interest expense compensation mechanism, and the fixed "8 percent annual rate" requirement in Paragraph 16 is deleted. An introductory provision added to Paragraph 32 governs payments for imported goods and services financed through credit funds under import contracts. The amendments apply to commercial banks, borrowers, and financial institutions operating within the program framework, with the decision entering into force on January 1, 2020.

Uzbekistan

Central Bank of the Republic of Uzbekistan

Decision of the Board of the Central Bank of the Republic of Uzbekistan, registered on 30.12.2019, registration number 3022-3

Effective date: 01.01.2020 All Reference to the next revision Reference to the previous revision Indexing according to QTUQ Indexing according to QMQ Source of amendments: 09.09.2022 Official publication source: 01.01.2020 View: Russian, Uzbek, O’zb, Uzbek|Russian Document lost force on 09.09.2022

[OKON: 1. 07.00.00.00 Legislation on Finance and Credit. Banking Activities / 07.22.00.00 Lending / 07.22.05.00 Preferential Lending] [TSZ: 1. Finance / Banks and other credit institutions. Credits]

Decision of the Board of the Central Bank of the Republic of Uzbekistan "On Amendments and Additions to the Regulation on Credit Allocation under the 'Every Family is an Entrepreneur' Program" [Registered by the Ministry of Justice of the Republic of Uzbekistan on December 30, 2019, registration number 3022-3]

LexUZ commentary: This decision has lost force based on the Decision of the Board of the Central Bank of the Republic of Uzbekistan No. 19/6 dated August 22, 2022 "On Recognizing Certain Departmental Normative Legal Acts Adopted by the Central Bank of the Republic of Uzbekistan as Invalid" (registration number 3385, dated September 9, 2022).

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Banks and Banking Activities", as well as the Decisions of the President of the Republic of Uzbekistan No. PQ-4231 dated March 7, 2019 "On Additional Measures to Broaden the Involvement of the Population in Entrepreneurship and Develop Family Entrepreneurship in Regions" and No. PQ-4498 dated October 24, 2019 "On Additional Measures to Improve the Credit Financing System for Projects Implemented within State Programs for Developing Family Entrepreneurship", the Board of the Central Bank of the Republic of Uzbekistan decides:

Amendments and additions shall be made to the Annex of the Regulation on Credit Allocation under the "Every Family is an Entrepreneur" Program, approved by Decision No. 20/1 of the Board of the Central Bank of the Republic of Uzbekistan dated June 8, 2018 (registration number 3022, dated June 9, 2018) (National Database of Legislation Information, June 9, 2018, No. 10/18/3021/1333).
This decision enters into force on January 1, 2020.

Chairman of the Central Bank: M. NURMURATOV Tashkent, December 21, 2019 No. 31/1

Decision of the Board of the Central Bank of the Republic of Uzbekistan No. 31/1 dated December 21, 2019 ANNEX Amendments and Additions to the Regulation on Credit Allocation under the "Every Family is an Entrepreneur" Program

In the Preamble, the words "commercial banks" shall be replaced with "AT Halk Bank, ATB Microcreditbank and ATB Agrobank (hereinafter in the text referred to as commercial banks)".
Paragraph 2 shall be stated in the following wording: "2. Credits are allocated from resources within the program."
In Paragraph 2 (title), and in paragraphs 3, 10, 11, and 12 (title), paragraph 4 (title), paragraphs 17, 18, 20–23, 31, and 33 (title), the word "preferential" shall be removed.
Paragraph 4 shall be stated in the following wording: "4. Credits are allocated at the refinancing rate of the Central Bank of the Republic of Uzbekistan through commercial banks, and from January 1, 2021, at rates independently set by commercial banks based on market principles. A mechanism for compensating a portion of interest expenses is applied to credits allocated at rates independently set by commercial banks based on market principles."
In Paragraph 16, the words "at a preferential annual rate of 8 percent" shall be removed.
Paragraph 32 shall be supplemented with the following introductory sentence: "Payments for goods (services) imported from abroad based on import contracts using credit funds are carried out in accordance with the terms stipulated in these contracts." (National Database of Legislation Information, December 30, 2019, No. 10/19/3022-3/4251)