UMRC SPV Registered as Participant in Capital Market Regulatory Sandbox

Tashkent, Uzbekistan (UzDaily.com) — The National Agency for Prospective Projects has registered UMRC SPV LLC as a participant in the special legal regime "Regulatory Sandbox" in the capital market sector.

The company, established by Uzbekistan Mortgage Refinancing Company JSC, will focus on issuing mortgage-backed securities and introducing this practice in the country.

The registration of UMRC SPV marks an important step in implementing Presidential Decree No. PF-26 of 21 February 2025, "On Additional Measures for the Further Development of the Housing and Mortgage Market," along with the accompanying "Roadmap for Implementing the Program to Provide Housing through Mortgage Loans Based on Market Principles in 2025."

The main task of UMRC SPV LLC is to take mortgage loan pools from commercial banks onto its balance sheet and issue mortgage-backed securities secured by these pools.