Tashkent, Uzbekistan (UzDaily.uz) — During a plenary session of the Legislative Chamber of the Oliy Majlis, lawmakers discussed and adopted a bill aimed at developing the factoring services market in the country.
The document removes the liability for violating the prohibition on the assignment of monetary claims to third parties and allows factoring operations in foreign currency when the client’s counterparty is a non-resident.
Additionally, the bill proposes the creation of specialized factoring organizations to support entrepreneurs. These organizations will be included in the registry of non-bank credit institutions, and their activities will be regulated by the Central Bank of Uzbekistan.
The adoption of this bill is expected to establish a legal framework for implementing factoring services in accordance with international standards. This, in turn, will significantly expand entrepreneurs’ access to financial instruments and provide comprehensive support to businesses.
