Requirements for Documents Needed to Obtain Loans in Uzbekistan to be Reduced

During a meeting dedicated to the socio-economic development of the Kashkadarya region, Shavkat Mirziyoyev issued a directive to eliminate redundant documentation currently required by banks for the issuance of loans.
It has been reported that banks currently demand 102 different types of documents for loan processing. Of these, 53 are already available within state information systems, while another 22 are irrelevant to the lending process.
The President emphasized that banks should not base loan decisions solely on collateral; rather, they must also take into account a client’s cash flow and confirmed orders. This approach is expected to make it easier for entrepreneurs to access financial resources.
Furthermore, it was determined that the performance of banks should be evaluated not by the number of loans issued or new products introduced, but by the actual growth and business outcomes of the enterprises they support.
These changes are intended to accelerate the financing of entrepreneurial projects and facilitate the creation of new jobs.

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