Event Overview
Delegation led by Deputy Minister of economy and finance of the Republic of Uzbekistan, and CEO of Mortgage Refinancing Company of Uzbekistan JSC (UzMRC) visited Malaysia's national mortgage corporation, Cagamas, in 2023.
The visit focused on studying Cagamas' operations, its products, the role of government housing policy, its position in the capital market, its risk management and the factors contributing to the development of its business model.
Cagamas CEO Mr. Ch. Leong told about the Malaysian Mortgage Corporation operations, which issues corporate bonds and sukuk to finance the purchase of housing loans and receivables from financial institutions, selected corporations and the public sector.
At the end of the meeting, a Bilateral Cooperation Memorandum was signed between UzMRC and Cagamas.
The visit focused on studying Cagamas' operations, its products, the role of government housing policy, its position in the capital market, its risk management and the factors contributing to the development of its business model.
Cagamas CEO Mr. Ch. Leong told about the Malaysian Mortgage Corporation operations, which issues corporate bonds and sukuk to finance the purchase of housing loans and receivables from financial institutions, selected corporations and the public sector.
At the end of the meeting, a Bilateral Cooperation Memorandum was signed between UzMRC and Cagamas.
Malaysia
05 Dec 2023
9:00 AM - 5:00 PM (GMT +8)
Visit to Securities Commission of Malaysia As a part of state delegation UzMRC visited Malaysia's "Securities Commission"
The delegation met with Avang Adek Hussin, Chairman of Malaysia's Securities Commission.
Interesting negotiations were held between representatives of both sides. During the meeting, the following key points were discussed:
The discussions focused on exchanging expertise and identifying necessary steps to strengthen the financial and capital markets.
Interesting negotiations were held between representatives of both sides. During the meeting, the following key points were discussed:
- Highlighting common factors in defining the rights and obligations of all participants in the capital market.
- Exploring all tools available in the capital market to develop the mortgage market, including considerations related to the issue of "Zakladnaya" (mortgage deeds).
- Requirements for issuers of mortgage-backed securities.
- Monitoring systemic risks in the capital market.
- Sharing experiences and receiving essential recommendations on key factors for establishing a sustainable financial system and capital market.
The discussions focused on exchanging expertise and identifying necessary steps to strengthen the financial and capital markets.
UzMRC visited Malaysia's Central Bank - Bank Negara
The Deputy Chairperson of Bank Negara Malaysia, Jessica Chew Cheng Lian, welcomed the Uzbekistan delegation.
During the meeting, discussions with Bank Negara representatives, as the financial sector regulator, focused on the following four key areas:
During the meeting, discussions with Bank Negara representatives, as the financial sector regulator, focused on the following four key areas:
- The role of the bank in formulating and implementing state housing policies and programs.
- The regulatory framework for overseeing mortgage lending institutions, including banks and the national corporation, Cagamas.
- Islamic finance, specifically the development stages of Islamic products for housing finance.
Exchange of experience in risk management with the National Mortgage Corporation of Malaysia (CAGAMAS)
Within the framework of Bilateral Cooperation Memorandum between UzMRC and Cagamas, Head of Credit Risk Unit of the Risk Management and Compliance Department of CAGAMAS, Mr. Ravivarma Vasan visited UzMRC in September 2024. The purpose of the visit was to exchange experience in risk management system and explore experience of peer companies from advanced mortgage markets.
During the two-week visit, Mr. Ravivarma Vasan reviewed the Company’s business model, its risk management framework, and provided valuable recommendations for improvement of UzMRC’s credit risk management.
During the two-week visit, Mr. Ravivarma Vasan reviewed the Company’s business model, its risk management framework, and provided valuable recommendations for improvement of UzMRC’s credit risk management.
Asmma Secretariat
Address
Pakistan Mortgage Refinance Company (PMRC)
Finance and Trade Centre
4th Floor, Block-A,
Shahrah-e-Faisal,
Kerachi
Email
Operating Hours
9:00am to 5:30pm (Monday - Friday)
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