Joint-Stock Commercial Microcreditbank has been established under Decree No PF-3750 of President of Republic of Uzbekistan dated May 5, 2006 re: “Establishment of Joint-Stock Commercial Microcreditbank in order to provide for development of small businesses, private entrepreneurship and private farming, to create new individual self-employment opportunities by activating family businesses and cottage industries, especially to further enhance financing by providing access of large groups of rural population to microfinance services". The Bank has established cooperation with international financial institutions and foreign commercial banks. These include the World Bank, the Islamic Corporation for the Development of the Private Sector, the Asian Bankers Association, the International Fund for Agricultural Development, and the German Savings Banks Fund.