It is no secret that the population of Uzbekistan increases every year. As a result, the need for housing increases. Therefore, to provide the population with housing, especially those who need housing or expansion of housing, low-income people who do not have sufficient income, the legislation in the mortgage lending market has been improved, several benefits have been introduced, and amenities have been created. As a result, the issue of buying a house, which some people only dreamed of a few years ago, today has a legal solution.

It can be said that the draft law “On introducing amendments and addenda to certain regulatory legal acts of the Republic of Uzbekistan in connection with the development and expansion of the mortgage lending market” being considered in the Legislative Chamber of the Oliy Majlis confirms this kind of good deeds.

This draft law was discussed in the first reading at a meeting of the faction of the People’s Democratic Party of Uzbekistan in the lower house of parliament. It was noted that when providing the mortgage market with long-term resources, it is advisable to attract funds from the state budget or external debt and widely use mortgage market instruments.

Usually, after issuing a mortgage loan, the bank has to wait 20 years to return these funds. To accelerate the turnover of the allocated funds, banks use these loans as assets (i.e., sell or pledge them to another person).

The advantage of a mortgage letter of guarantee is that when it is transferred to another person, all rights to the mortgage loan are automatically transferred to this person. In this case, there is no need to change the loan and mortgage agreements in a notarial manner and transfer them for state registration.

The deputies approved the proposed draft norm for attracting long-term resources to the mortgage market and introducing mortgage loans as assets into circulation by improving the mechanism of letters of guarantee provided by current legislation.

At the same time, it was noted that it is necessary to simplify the procedure for registering and circulating a letter of guarantee. Based on this, to simplify the process of issuing, registering, and applying for a letter of guarantee and, accordingly, the process of refinancing a mortgage, the possibility of issuing a mortgage letter online or by visiting government service centers has been provided, and opinions on the introduction of the concept of an electronic letter of guarantee have been discussed.

Currently, the registration authority requires the parties' participation when issuing a letter of guarantee and directs applicants’ appeals to the cadastral authorities, which causes serious difficulties. Within the project, it was positively perceived that issuing a letter of guarantee online or by visiting public service centers reduces administrative costs and saves time. At the same time, this will increase the possibility of using a letter of guarantee.

After questions, answers, and discussions, the first reading adopted the draft law.

At the faction meeting, the draft law “On introducing amendments and addenda to certain regulatory legal acts of the Republic of Uzbekistan, providing for preventing violations by controlled persons and expanding the powers of internal affairs bodies in this direction” was also considered.

According to this document, to ensure the priority of the law among a special category of persons under the control of internal affairs bodies, the formation of law-abiding behavior in their minds, respect for people, labor, rules, and traditions of public life, it is proposed to introduce several additions and amendments to the Criminal and Criminal Procedure Codes of the Republic of Uzbekistan.

The deputies actively discussed the articles and provisions of the draft law and expressed their opinions.

In particular, Ulugbek Vafoyev objected to the data set out in the explanatory letter. International experience was studied to justify the proposed norms. However, the law’s initiators did not include information about the countries in which these changes were proposed and how well they justified themselves there, but rather about countries where such practices are not used. This gives rise to misunderstandings and hesitations in the study, as well as the expression of opinions and decision-making on the draft by the deputies.

At the same time, it was emphasized that any innovations and changes should not only concern the consequences of crime, but also serve its prevention. For this purpose, opinions were expressed on such issues as strengthening measures for the irresponsibility of the prevention inspector in the area where the crime was committed and revising the conditions for taking persons who committed a serious crime on probation.

After several reviews and proposals that should be considered and taken into account before the next reading, the deputies conceptually supported the draft law.