Following the adoption of the Decree of the President of the Republic of Uzbekistan "On Measures to Accelerate the Development of the Factoring Services Market" dated August 12, 2024, and the definition of prospects for the development of this system, the number of entrepreneurs using factoring services is increasing.
In particular, the decree assigned a number of tasks to commercial banks to develop factoring services in our country. Based on global experience, the development of this financial service has many advantages for entrepreneurs.
In the MKBANK system, a new Factoring Services Department has been established and staffed with experienced specialists. In order to expand factoring services in the bank, an agreement was signed with "OZPLANET" on the use of the electronic platform. In a short period of time, the bank paid more than 21 billion soums to 6 clients using this platform. Systematic work is also being carried out to increase the number of entrepreneurs using factoring services in the future.
It should be noted that the bank offers factoring services to representatives of corporate, small and medium-sized businesses, manufacturers, and trading companies for up to 180 days (pre-sale or service agreements based on the payment deadline), with discounts of up to 8%.
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