According to Article 34 of the Law of the Republic of Uzbekistan banks provide loans secured by movable and immovable property, guarantees, warranties and obligations under the law.
In accordance with Article 10 of the Law of the Republic of Uzbekistan "On Pledge" rating of the collateral provided by agreement between the mortgagor and the mortgagee or by assessing the collateral in accordance with the legislation on appraisal activity.
Also in accordance with Paragraph 2 of Section 2.7 of "Regulation on requirements for the credit policy of commercial banks" of the Central bank (state registration. № 905 from 02.03.2000.) Credit policy should be subject to the requirements of the collateral value and the size of the loan to value depending on the type mortgaged property. This paragraph should be clearly reflected that the collateral must be evaluated carefully, and its market value should reflect possible losses when necessary for its implementation.
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