01 Jun 2024
Mortgage Refinancing Company of Uzbekistan (UzMRC) Increased Charter Capital
Share:
UzMRC increased its charter capital by 808 billion UZS to reach 941 billion UZS by June 1, 2024. The capital injection was funded by existing and two new shareholders (commercial banks).
Established in 2019 under Presidential Decree No. PF-5715, UzMRC operates as a joint-stock company with state participation to enhance the mortgage market. Its key functions include providing long-term resources to banks for mortgage lending, raising funds via bonds, and improving the mortgage credit system.
The Company operates independently of government influence, adhering to international practices and Asian Development Bank guidelines. While partially state-owned, UzMRC ensures access to modern capital market tools for affordable mortgage funding. It offers credit resources to banks with a 1% operational margin, directing profits to either capitalization or dividends as decided by shareholders.
This cooperative public-private model helps manage capital effectively as UzMRC expands, ensuring sustainable support for Uzbekistan’s mortgage sector.
Established in 2019 under Presidential Decree No. PF-5715, UzMRC operates as a joint-stock company with state participation to enhance the mortgage market. Its key functions include providing long-term resources to banks for mortgage lending, raising funds via bonds, and improving the mortgage credit system.
The Company operates independently of government influence, adhering to international practices and Asian Development Bank guidelines. While partially state-owned, UzMRC ensures access to modern capital market tools for affordable mortgage funding. It offers credit resources to banks with a 1% operational margin, directing profits to either capitalization or dividends as decided by shareholders.
This cooperative public-private model helps manage capital effectively as UzMRC expands, ensuring sustainable support for Uzbekistan’s mortgage sector.
Explore More News
