Prospects for Applying Foreign Experience in Factoring, Forfeiting and Futures Contracts to Minimize Financial Risks on Debt Instruments in Uzbekistan

This article analyzes foreign experience in using factoring, forfeiting, and futures contracts to minimize financial risks in Uzbekistan’s debt instruments market. The study, employing comparative institutional analysis, generalization of international statistical data, and expert assessment methods, highlights the risk allocation and hedging functions of factoring, forfeiting, and futures mechanisms, and substantiates practical proposals for adapting them to Uzbekistan’s conditions and introducing them in stages. The research examines international regulatory frameworks, institutional infrastructure, and international market practice, identifying best practices applicable to the local market. It also assesses the current readiness level of Uzbekistan’s financial sector, possible barriers to implementation, and the expected impact on liquidity, risk reduction, and investor confidence. Practical proposals and recommendations have been formulated for the application of debt financial instruments on the Uzbekistan Commodity Exchange.