10/01/11 - Non-Bank Credit Organizations Assert Their Position

Дата публикации: Jan 19, 2012 10:15:50 PM

The development of microfinance services as a part of the resolution of the Head of State on priorities for further reforming and improving the stability of the financial and banking system of the republic for 2011-2015 and for the achievement of high international ratings designed to enhance the business activity of the entrepreneurial sector, will create good conditions for employment and welfare growth.

Among the stimulation measures there are pilot projects of unsecured micro-credits, based on joint liability of groups of borrowers, the expansion of insurance policies for loan repayment insurance. The priorities include the establishment of credit unions and micro-credit organizations that provide micro-credits and micro-loans for women from poor families.

According to the Central Bank, this segment of the financial market brings together more than 100 credit unions, more than 30 micro-credit organizations and about 50 pawn shops in all regions of the country.

These institutions increase their total capital through additional equity contributions and growing profits, assets and loan portfolio.

The experts of the Central Bank say that the short-term loans with maturity of 1 year have the overwhelming share in the structure of credit investments. The main part of loan resources is directed into the sphere of trade and catering. The number of loans provided to the enterprises of agriculture, industry, communications and transport, housing and household services increases.

UZ