The Legislative Chamber of the Oliy Majlis has adopted several bills related to business and the credit-financial sector in their first reading.
One of these bills aims to develop factoring services. As noted by the deputies, the current regulations do not allow for the establishment of financial institutions specializing in factoring in Uzbekistan.
To enhance factoring relationships, amendments to the Civil Code and other legislative acts are proposed. It is expected that their adoption will align the regulations with international practices.
The Legislative Chamber also reviewed a draft law prohibiting the signing of contracts between individuals and credit bureaus through the submission of applications. This is anticipated to help prevent fraudsters from obtaining loans in the names of other citizens without their participation or knowledge.
Another bill provides for new benefits for the jewelry industry. Until September 1, 2027, members of the "Uzbekzargarsanoati" association will be exempt from property tax and land tax.
Refining enterprises will be granted the right to sell precious metals in quantities and forms convenient for jewelers, as well as to produce souvenir coins made of precious metals. In turn, jewelers will be allowed to sell semi-finished products to other manufacturers.
The purchase of precious metals and jewelry from individuals and legal entities will be conducted in a notification manner. It is planned to prohibit the sale of imported jewelry without documents confirming the payment of customs duties.
Previously, Spot reported that, according to the Central Bank, the volume of microcrediting increased by half over the past nine months.