In order to ensure the implementation of the Decree of the President of the Republic of Uzbekistan "On Measures for the Accelerated Development of the Factoring Services Market", adopted on April 8, 2024, as well as to support the continuity of the activities of small and medium-sized businesses, a number of innovations have been introduced in the Microcredit Bank system.
In particular, a "Factoring Service Module" has been developed for small and medium-sized businesses. This module allows for the provision of factoring services for a period of up to 6 months with a discount rate of 2% to 12%, depending on the service period.
In addition, a foreign currency factoring service module has been introduced for export and import transactions. This type of service provides financial support to small and medium-sized businesses for a period of up to 6 months, in US dollars and euros, at a discount rate of 1.3% to 7.8%, depending on the term.
Recently, the bank launched a special “Poultry Factoring” module for the poultry industry. This module is aimed at developing the meat and egg sectors of poultry farming on a cooperative basis and ensuring employment of the population at the expense of 50 billion soums allocated within the framework of the implementation of clause 2.b of the Resolution of the President of the Republic of Uzbekistan No. PQ-34 dated January 30, 2025. Through this module, the Microcredit Bank provides preferential financial services for a period of up to 6 months with a discount of 1 to 7 percent, depending on the term.
According to the results, during 2024, financial services worth 42.2 billion soums were provided to business entities, and in the previous period of this year, more than 41 billion soums.
In conclusion, we can say that the factoring services modules introduced by Mikrokreditbank have created new financial opportunities for small and medium-sized businesses. This is an important factor in supporting entrepreneurial activity, increasing export potential, and ensuring employment.
Bank Information service
See also
Commemorative coins representing a historical moment are on sale at MKBANK
From Credit to Result: The Path to Success for Bukhara Entrepreneurs
