Uzbekistan launches targeted mortgage deposit pilot project

Tashkent, Uzbekistan (UzDaily.uz) — A pilot project introducing targeted mortgage deposits has entered into force in Uzbekistan. A corresponding joint resolution of the Ministry of Economy and Finance and the Central Bank was registered on 30 June 2026 under No. 3874 and has been effective since 1 July 2026.

The document defines the mechanism for citizens who have received a subsidy notification to open and use a targeted mortgage deposit account in commercial banks. The funds in these accounts are intended to accumulate the down payment for purchasing housing on the primary market.

The regulation applies to targeted mortgage deposits opened between 1 July 2026 and 31 December 2026.

During the validity period of the subsidy notification, an applicant can apply to a commercial bank to open a targeted mortgage deposit account. At the time of opening, the account must contain a portion of the down payment from the applicant's own funds.

After the account is opened, the bank submits an application via the subsidyplatform.mf.uz payment platform to the Ministry of Economy and Finance to transfer the subsidy into the targeted mortgage deposit.

Once the subsidy is received, interest begins to accrue on the total funds placed in the deposit account.

Upon the purchase of an apartment, the bank transfers the accumulated funds from the targeted mortgage deposit account, the accrued interest, and the mortgage loan funds directly to the construction organization.

The document entered into force on 1 July 2026.