Modern Trends In The Microfinance System In Uzbekistan

UmarovaAzizakhon, Nasiba Ismailova, RanoTashmatova, FeruzaMusayeva

This article describes the stages of development and current trends in the microfinance system in Uzbekistan.The dynamics of microfinance in Uzbekistan is divided into three stages of development of the microfinance system.The purpose of the study is to study the microfinance system in Uzbekistan, its problems and current trends. The following results were obtained as a result of the study: Microcredit is one of the key factors in the development of small business in the country, and the country will be able to reduce unemployment through the development of microfinance. The reduction of interest rates on microcredit in the country can have a positive impact on the volume of turnover, as well as solve social problems in the country. It is necessary to minimize the documents required in the process of issuing microloans in Uzbekistan, such as Germany. Including passport, application and income statement. The reduction in the number of documents will strengthen the trust between microfinance institutions and customer and increase the transparency of microfinance services.

Volume 12 | Issue 2

Pages: 2624-2628