The President ordered the cancellation of unnecessary bureaucratic requirements that banks impose when issuing loans. At a meeting dedicated to the socio-economic development of the Kashkadarya region, it was decided to reduce excessive banking requirements for the lending process.
It is reported that currently, 102 types of documents are required for the lending process. Of these, information on 53 is already contained in information systems, and another 22 types of documents are irrelevant to lending.
The President ordered the abolition of these superfluous requirements. It was emphasized at the meeting that banks must demonstrate practical results in providing financing to projects for the population and entrepreneurs.
It was noted that when issuing loans, attention should be paid not only to collateral but also to the enterprise's actual cash flow and its specific orders. This approach was previously discussed in the Andijan region, where the goal was set to develop 20 new financial products to link lending to cash flows and orders. Now this approach should yield results in Kashkadarya as well.
During the meeting in Andijan, tasks were also set, such as waiving the requirement for a business plan for projects worth up to 500 million soums, and accepting a long-term contract of a small entrepreneur with a large customer as loan collateral.
The head of state stressed that the activity of banks should be evaluated not by the number of new products, but by the growth of enterprises and businesses that received funds through these products.