22 September 2025

‘UMRC SPV’ LLC has been registered as a participant in the capital market as a ‘Regulatory Sandbox’ participant.

The National Agency for Prospective Projects has registered “UMRC SPV” LLC as a participant in the special legal regime of the “Regulatory Sandbox” in the field of issuing mortgage bonds.

“UMRC SPV” LLC was established by the Company, and its main activity is the issuance of mortgage bonds in Uzbekistan.

This registration process is an important practical step aimed at fulfilling the tasks set out in Presidential Decree No. PF-26 of the Republic of Uzbekistan dated 21 February 2025, and the annexed “Roadmap for implementing the program to provide housing for the population through market-based mortgage loans in 2025.”

The main functions of “UMRC SPV” LLC are:
To accept mortgage loan portfolios from commercial banks onto its balance sheet;
To issue mortgage bonds secured by these portfolios.

This initiative serves to further develop the national capital market, expand refinancing mechanisms for mortgage loans, and increase opportunities for the population to access housing.