As you know, in accordance with the Law of the Republic of Uzbekistan “On Amendments and Addenda to Certain Legislative Acts of the Republic of Uzbekistan in connection with the Improvement of the System of Financial Support for Business Entities”, approved on April 17, 2025, entrepreneurs were provided with a number of new opportunities.
In particular, the law established norms aimed at developing new and alternative means of financing business entities in the context of further development of market relations, in particular, expanding the scope of providing assistance to entrepreneurs in the form of guarantees, and improving financing mechanisms in exchange for the waiver of a cash demand in favor of another person, which is an alternative to bank loans.
In particular, according to this Law, it is stipulated that the object of factoring is a monetary claim arising from a legal entity or business entity, liability for violation of the prohibition on waiving a monetary claim in favor of another person is abolished, and factoring operations in foreign currency are allowed when the client's counterparty is a non-resident.
In order to strengthen the legal protection of the debtor in factoring, it is prohibited to change the country and currency in which payment is made by the financial agent, as well as to establish registration of notifications of waiving a monetary claim in the pledge register in order to prevent fraud in factoring.
This document established the introduction of specialized factoring organizations that provide guarantees (sureties) to business entities for the fulfillment of monetary obligations to credit institutions on a professional basis.
Now, according to the Law, the minimum authorized capital for a guarantee organization is set at 100 billion soums, and for factoring organizations at 2 billion soums. These organizations are registered with the Central Bank, and their activities are regulated and controlled by the Central Bank.
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