Regulatory Alerts2004-12-27 | 25/9Added · Updated
Regulation on the Accounting of Loans in Commercial Banks
The Central Bank of Uzbekistan approved the Regulation establishing the rules for maintaining accounting for loans in commercial banks, effective from December 27, 2004. The document defines key concepts such as real interest rate and impairment losses, and mandates that loans be classified and impaired reserves formed in accordance with IFRS and specific Central Bank regulations. It prescribes specific accounting entries for loan origination, fee amortization, interest recognition, and the write-off or recovery of impaired loans, including scenarios involving collateral liquidation.
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