Study Visit and Signing of Memorandum of Understanding (“MoU”) between Cagamas Berhad (“Cagamas”) with the Mortgage Refinancing Company of Uzbekistan (UzMRC)

Study Visit and Signing of Memorandum of Understanding (“MoU”)
Study Visit and Signing of Memorandum of Understanding (“MoU”)

Cagamas hosted a delegation from Uzbekistan led by Adiz Boboev, Deputy Minister of Economy and Finance of the Republic of Uzbekistan. The delegation also included representatives from the Uzbek Industrial and Construction Bank, Mortgage Refinancing Company of Uzbekistan, The Central Bank of the Republic of Uzbekistan and Asian Development Bank Uzbekistan Resident Mission. The study visit is an opportunity for UzMRC to learn Cagamas’ operations and experiences in promoting home ownership.

During the visit, Cagamas also inked a Memorandum of Understanding with UzMRC with the objective of promoting and developing the secondary mortgage market, including exploration of housing financing methods between both countries.