Small business owners will no longer have to jump from one bank to another to secure a loan. Instead, banks will come to them. During a recent meeting, Timur Ishmetov, Chairman of the Central Bank, introduced a new digital financial platform. Through this platform, small business owners can submit a loan application just once, compare offers from multiple banks, and select the terms that best suit their needs.
The platform will be operated by a legal entity formed with the participation of the “Axborotlashtirish Bosh Markazi” (Main Computing Center) LLC.
Two primary objectives
- Convenience for entrepreneurs: Currently, small business owners must visit each bank individually and repeatedly prove their creditworthiness. In the new system, banks will actively compete against each other to win over reliable clients.
- Ap for low-scoring clients: The platform’s system will highlight specific areas where an entrepreneur’s financial discipline is lacking and provide a clear roadmap for improvement.
Alternative scoring based on 27 data sources
The platform will utilize an alternative scoring model driven by data integrated from 27 ministries and government agencies. Rather than relying solely on bank statements, this model will analyze comprehensive indicators, including:
- Business turnover and cash flows
- Utility payments
- Tax and customs records
Ambitious targets for 2030
The government has set substantial long-term benchmarks for economic growth:
- GDP Share: The share of small business loans in the country’s GDP is projected to increase from the current 12% to 20%.
- Loan Volume: In absolute terms, the volume of lending is planned to surge from 218 trillion UZS to 654 trillion UZS.
The share of small business loans in the GDP is projected to increase from the current 12% to 20%, with the total volume expanding from 218 trillion UZS to 654 trillion UZS. Non-bank credit organizations, leasing companies, and fintech market participants will also be integrated into the platform by April 1, 2028. The platform is scheduled to launch on July 1, 2026.
