Representatives of ministries, departments, scholars, economists and journalists attended the event, the press service of Legislative Chamber said.

Participants considered a draft law “On exchange of credit information”, which was submitted to the parliament by the Cabinet of Ministers of Uzbekistan. The law should become key document on ensuring effective functioning of banking-financial system.

Microcredit services, rendered by credit organizations to small businesses, farmers and population, are one of main economic factors of growth of share of small and private businesses in GDP of Uzbekistan and ensuring employment and improving well being of population.

Created in line with the governmental resolution, National Credit Information Institute under the Central Bank and Interbank Credit Bureau under the Uzbekistan Banking Association gather and analyze information, as well as form data base of commercial banks’ debtors. At the same time, there is need to strengthen legislative bases for activities of Interbank Credit Bureau.

The draft law is directed at regulating legal relations in credit information exchange system and create legislative base for exchange of credit information, protection rights and interests of legal entities and individuals, owners of credit information and create equal opportunities for participant of credit information exchange process.

Participants familiarized with the credit information exchange system, its importance and international experience in this area. It was said that development of competition among credit organizations and improvement of credit information exchange system is requirement of time.

During the discussions, the participants proposed concrete offers and recommendations on improvement of the draft law.