MICROFINANCING PROBLEMS IN THE REPUBLIC OF UZBEKISTAN AND THEIR SOLUTIONS
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Microfinance plays a key role in supporting small and medium-sized businesses (SMEs) in Uzbekistan. In 2023-2024, the sector has experienced significant growth, with the issuance of microloans and microcredits more than doubling, and the revenue and profit margins of microfinance organizations (MFOs) reaching record levels. However, new risks have emerged, including an increase in non-performing loans, financial stress among borrowers, and challenges in the regulatory and infrastructure environment. The article analyzes the main problems of microfinance, assesses the state of the industry based on statistics, and suggests solutions, including strengthening supervision, expanding limits, improving access to financing, and developing Islamic and digital financing.
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