Uzbekistan completes pilot mortgage bond placement

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan has completed a pilot project to place mortgage bonds involving five commercial banks, with bonds worth a total of 200.88 billion soums placed through five closed exchange transactions on the Toshkent Republican Stock Exchange.

The pilot project was implemented in accordance with Presidential Decree No. UP–26 of 21 February 2025, “On additional measures to further develop the housing and mortgage market.” The decree provided for the issuance of 200 billion soums worth of mortgage bonds backed by pools of mortgage loans from commercial banks and their placement among five banks.

The mortgage bonds were issued by UMRC SPV LLC under the Uzbekistan Mortgage Refinancing Company JSC. The placements were conducted through the Toshkent Republican Stock Exchange.

The final two transactions under the pilot project were completed on 13 and 21 August. On 13 August, mortgage bonds worth 40.15 billion soums were placed with the participation of Uzpromstroybank JSC. On 21 August, Asakabank JSC purchased bonds worth 39.63 billion soums.

Following these transactions, the target of placing mortgage bonds with the participation of five banks was completed in full.

In addition to Uzpromstroybank and Asakabank, the project involved UzNatsbank JSC, Halk Bank JSC and Agrobank JSC.

The total value of mortgage bonds placed through the five closed exchange transactions amounted to 200.88 billion soums.