CBU Abolishes Its Resolution on Crediting of Farms
OREANDA-NEWS. March 11, 2009. A resolution of the Board of the Central Bank of Uzbekistan "On abolishment of resolution "On approval of the regulation on order of allocation of credits by commercial banks to shirkat and farm entities for timely purchase of cotton, cotton waste and husk from oil and fat enterprises and their points" from 24 January 2009 entered into force on 6 March 2009.
The document was adopted by the Board of the Central Bank of Uzbekistan in line with the Law "On Central Bank of Uzbekistan" and resolution of President of Uzbekistan "On additional measures on strengthening of stimulation raising number of cattle in personal auxiliaries, dehkan and farm entities and expansion of production of cattle products" from 21 April 2008.
The resolution's article four said that cotton waste and husk will be realized in the internal market and exported through the Uzbek Commodity Exchange.
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