Microcredit organizations to increase charter funds to 2 billion soums
The regulator issued a resolution “On amending regulations on procedure for licensing microcredit organizations”.
According to the document, from 1 October 2017, the size of the authorized funds of microcredit organizations should be at least 2 billion soums independently from their location.
Earlier, microcredit organizations in Tashkent should form their authorized funds at the size of 20,000 euros and in other areas - in the equivalent of not less than 10,000 euros.
The Central Bank ordered the existing microcredit organizations to increase the size of their charter funds to the set value by 1 January 2019.