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 the bills aims to promote factoring services. As noted by the deputies, the existing regulatory norms in this area do not allow for the establishment of financial institutions specializing in factoring in Uzbekistan.
To develop factoring relations, amendments are proposed for the Civil Code and other legislative acts. It is expected that their adoption will align norms with international practices.
The Legislative Chamber also reviewed a draft law that would allow individuals to prohibit the conclusion of loan agreements from their name through credit bureaus. This is anticipated to help prevent fraudsters from obtaining loans in the names of other citizens without their involvement or knowledge.
Another bill proposes new benefits for the jewelry industry. Thus, until September 1, 2027, members of the association "Uzbekzargarsanoati" will be exempt from property tax and land tax.
Refining enterprises will have the right to sell precious metals in quantities and forms convenient for jewelers, as well as to issue souvenir coins made from precious metals. In turn, jewelers will be able to sell semi-finished products to other manufacturers.
The purchase of precious metals and jewelry from individuals and legal entities will be conducted on a notification basis. 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.