Mortgage bondholders will have the ability to transfer their bonds to third parties online. The corresponding law was signed by Shavkat Mirziyoyev on February 12, as reported by the Ministry of Justice.
The document provides for amendments to legislation aimed at simplifying the use of bonds as collateral. The Legislative Chamber of the Oliy Majlis approved them in the final reading in September 2024, and they passed the Senate in December.
A system of electronic bonds will be implemented in mortgage transactions. Amendments will be made through the execution of additional agreements via the Unified Portal of Interactive State Services.
A mechanism is established whereby rights to electronic bonds will be transferred to other parties. A corresponding entry will be made in the recipient's deposit account, and their rights will be confirmed by a statement from the deposit account.
The previous procedure for transferring bonds required applicants to approach cadastral authorities for the registration of rights under the pledge agreement in person. As noted during the law's review, the new procedure will reduce costs and expedite the processing of the bond.
It was also reported that the law allows organizations involved in mortgage refinancing to issue bonds in amounts exceeding their own statutory capital. This means increased opportunities for them to raise funds.
Earlier, Spot reported that the president, in a decree on the development of housing construction, instructed to allow the issuance of mortgage securities.