According to the Presidential Decree № DP 109 «On Measures to Accelerate the Development of Factoring Services Market», starting from January 2025 it is allowed to establish factoring organizations engaged in financial activities for the assignment of monetary claims. Factoring organization’s activity will be carried out after registration at the Central Bank of the Republic of Uzbekistan, carried out by entering it into the registry as a non-bank credit organization.

Starting from January 2025, it will be allowed to:

- carry out factoring operations in foreign currency, if the client's counterparty is a non-resident;

- to resell (refactoring) monetary claims acquired under factoring agreements to credit institutions.

Liability for violation of the prohibition on assignment of a monetary claim will be revoked. In order to ensure the priority of claims for the assigned rights, notifications of the assignment of monetary claims are going to be registered in a collateral registry.

Change of currency of monetary obligations and the country of payment without the consent of the debtor will not be allowed. Introduction of electronic platform for factoring services was also approved by the President.

Factoring platform will have following features:

- introduction by business entities of information and documents on monetary requirements for the use of factoring services;

- automation of financing process by verifying the authenticity of documents that are the basis of monetary claims, as well as ensuring the prompt collection of information about debtors and its analysis in real time;

- providing a convenient, fast and secure technological infrastructure for the provision of factoring services by credit institutions to participants in the supply chain.

In order to popularize and develop factoring services, develop industry standards, and strengthen ties between factoring market participants, based on initiative of commercial banks and microfinance organizations a National Factoring Association will be established.

In order to create opportunities for the widespread use of factoring in the implementation of foreign trade operations starting from January 1, 2025 on the basis of an agreement on the acquisition of receivables under an export contract:

- if the credit institutions providing factoring services (financial agents) are residents, information about them is entered into the Unified electronic information system for foreign trade operations as a recipient of foreign currency funds under the export contract and these financial agents are responsible for ensuring the fulfillment of the requirement to repatriate assets;

- If the financial agents are non-residents, the obligation to enforce the asset repatriation requirement remains with the exporter.