Regulatory Alerts2025-03-04 | ЎРҚ-1043-сонAdded · Updated
Law of the Republic of Uzbekistan on Amendments and Additions to the Law 'On Credit Information Exchange' Aimed at Further Improving Relations in the Credit Sector
The Law amends the Law 'On Credit Information Exchange' to establish a registry of individuals prohibited from entering into credit agreements, allowing citizens to voluntarily apply for such a prohibition to prevent unauthorized lending. It mandates credit bureaus to maintain this registry and requires lenders to check it before issuing credit, holding them liable for agreements made without the individual's consent. The Central Bank is granted authority to impose sanctions and fines of up to 5,000 base calculation amounts on credit bureaus for regulatory violations, and the minimum authorized capital for credit bureaus is set at 2 billion Uzbek som.
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