Regulatory Alerts2020-06-30 | 15/9Added · Updated
Resolution of the Board of the Central Bank of the Republic of Uzbekistan No. 15/9 of 27 June 2020 on Approving the Instruction on Accounting Procedures for Non-Bank Credit Organizations
The Board of the Central Bank of the Republic of Uzbekistan approves the Instruction on Accounting Procedures for Non-Bank Credit Organizations, establishing mandatory accounting rules for microfinance institutions, pawnshops, factoring companies, mortgage refinancing entities, and guarantee organizations. The regulation mandates the use of a specific Chart of Accounts, defines the organizational structure and responsibilities of the accounting service, and sets detailed procedures for cash, credit, collateral, and fixed asset accounting. It also specifies the chronological order for applying payments to cover debts, including principal, interest, and penalties, and requires the maintenance of off-balance sheet accounts for at least three years for written-off assets.
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