PART FIVE

DECISION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

On Approval of the Regulation on Qualification Requirements for Candidates Recommended for the Position of Head of the Executive Body of a Credit Bureau

Registered by the Ministry of Justice of the Republic of Uzbekistan on January 19, 2012, Registration No. 2315

(Enters into force from January 29, 2012)

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" (Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1995, No. 12, Article 247) and "On the Exchange of Credit Information" (Collection of Legislation of the Republic of Uzbekistan, 2011, No. 40, Article 412), the Board of the Central Bank of the Republic of Uzbekistan decides:

1. The Regulation on Qualification Requirements for Candidates Recommended for the Position of Head of the Executive Body of a Credit Bureau is approved in accordance with the Appendix.

2. This decision enters into force ten days after the day of its state registration by the Ministry of Justice of the Republic of Uzbekistan.

Chairman of the Central Bank
F. MULLAJONOV

Tashkent,
December 10, 2011
No. 37/10

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APPENDIX

To Decision No. 37/10 of the Board of the Central Bank of the Republic of Uzbekistan dated December 10, 2011

REGULATION

On Qualification Requirements for Candidates Recommended for the Position of Head of the Executive Body of a Credit Bureau

This Regulation establishes qualification requirements for candidates recommended for the position of head of the executive body of a credit bureau in accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" (Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1995, No. 12, Article 247) and "On the Exchange of Credit Information" (Collection of Legislation of the Republic of Uzbekistan, 2011, No. 40, Article 412).

I. General Provisions

1. The purpose of imposing qualification requirements on candidates recommended for the position of head of the executive body of a credit bureau is to ensure the effective performance by a qualified manager of the tasks set before the credit bureau in compliance with the requirements of legislation, as well as the reliable protection of information in the credit bureau.

2. Candidates recommended for the position of head of the executive body of a credit bureau are appointed to this position if they meet the qualification requirements established by this Regulation.

3. The credit bureau submits documents to the Central Bank of the Republic of Uzbekistan regarding the candidate recommended for the position of head of the executive body of the credit bureau in accordance with the Appendix attached to this Regulation.

II. Requirements Regarding Qualifications

4. Candidates recommended for the position of head of the executive body of a credit bureau must:

• have higher economic education;
• have experience in the banking or financial sector over the last five years, including work experience of at least three years in a structural unit related to credit operations.

5. A candidate recommended for the position of head of the executive body of a credit bureau must know:

• legislation concerning the activities of credit bureaus and other legal acts, including civil, labor, and economic management legislation;
• credit policy and lending procedures;
• the use of computer technology and information and communication technologies;
• the essence and significance of the currency policy being implemented in the republic.

6. The following persons may not be appointed to the position of head of the executive body of a credit bureau:

• former heads, members of the management and supervisory boards, and major participants (persons holding ten percent or more of the voting shares or shares in the authorized capital) of bankrupt or financially distressed banks, credit unions, microcredit organizations, credit bureaus, and other legal entities, where there is evidence that their actions led to the bankruptcy or financial deterioration of these entities;
• persons known to have conducted their business and personal conduct improperly.

III. Final Provisions

7. the suitability of a candidate recommended for the position of head of the executive body of a credit bureau for this position is determined by an interview and/or a test conducted by the Central Bank of the Republic of Uzbekistan.

8. If a candidate recommended for the position of head of the executive body of a credit bureau meets the qualification requirements established by this Regulation, the Central Bank of the Republic of Uzbekistan notifies the credit bureau in writing within three days.

9. If the head of the executive body of a credit bureau is released from their position, the founders of the credit bureau must notify the Central Bank of the Republic of Uzbekistan within three days and submit the documents of the candidate recommended for appointment to this position for consideration within fifteen days without delay.

10. If a candidate recommended for the position of head of the executive body of an operating credit bureau is found unsuitable for this position by the Central Bank of the Republic of Uzbekistan, the credit bureau must recommend another qualified candidate for this position within fifteen days.

11. The position of head of the executive body of a credit bureau must be filled within one month.

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Collection of Legislation of the Republic of Uzbekistan, 2012

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LIST OF DOCUMENTS SUBMITTED BY THE CREDIT BUREAU TO THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN REGARDING CANDIDATES FOR THE POSITION OF HEAD OF THE EXECUTIVE BODY

1. A submission from the founders of the credit bureau;
2. An application form;
3. A resume;
4. A copy of the diploma confirming higher education;
5. A character reference from the last place of work;
6. Four color photographs of size 6 x 4;
7. A certificate regarding the candidate's work activity;
8. A reference from colleagues expressing their opinion on the candidate's work activity;
9. A certificate and character reference from the place of residence, and a copy of the candidate's passport.

In addition, the candidate must bring the original copies of their passport, diploma confirming higher education, and work record book with them.

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Collection of Legislation of the Republic of Uzbekistan, 2012