Tashkent, Uzbekistan (UzDaily.com) — A delegation from the Republic of Uzbekistan, led by Murodjon Farmanov, CEO of the Uzbekistan Mortgage Refinancing Company (KRIUz), visited DOM.RF in Moscow to study Russia’s advanced experience in developing a mortgage securitization system.

The Uzbek delegation included representatives from KRIUz, the Ministry of Economy and Finance, the Central Bank of Uzbekistan, the National Agency for Prospective Projects, and several commercial banks. On the Russian side, DOM.RF was represented by senior staff from its Securitization and International Cooperation divisions.

“DOM.RF has gone from issuing its first structured mortgage-backed bonds in 2006 to building a comprehensive infrastructure for standardized securitization, which now underpins Russia’s mortgage securities market. We’re pleased to share this experience with our Uzbek colleagues as they pursue the ambitious goal of building a similar system,” said Elena Muzykina, Director of the Securitization Division at DOM.RF.

During the visit, the Uzbek team was introduced to DOM.RF’s digital solutions for the housing and construction sectors, including the Digital Mortgage-Backed Securities Platform, which streamlines the securitization process from setup to transaction management.

Marina Slutskaya, Director for Sustainable Development and International Cooperation at DOM.RF, highlighted Uzbekistan’s role as a key international partner:
“Uzbekistan is one of our most active international partners. We’re currently working together on several initiatives, including the introduction of escrow accounts, digital services, and green building standards. This visit by the KRIUz delegation and their interest in mortgage-backed securities is another step in deepening our strategic cooperation.”

Uzbekistan continues to expand its toolkit for supporting housing construction and developing the mortgage market. Starting from 1 July 2025, the country will transition to an escrow account mechanism modeled on the Russian system. Since last year, green building standards—developed in collaboration with DOM.RF—have also been gradually introduced in both multi-storey and private housing construction.