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

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01.07.2026

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[ OKOZ: 1. 03.00.00.00 Civil Legislation / 03.11.00.00 Specific Types of Obligations / 03.11.13.00 Credit (also see 07.22.00.00, 07.23.00.00); 2. 21.00.00.00 Comprehensive Documents on Amendments and Additions / 21.01.00.00 Laws of the Republic of Uzbekistan] [ TSZ: 1. State and Society Structure / Legislative Initiative. Norm-making activity; 2. Finance / Banks and other credit institutions. Credits] Send suggestions for the document Listen to audio Get a reference from a document element Law of the Republic of Uzbekistan Send suggestions for the document Listen to audio Get a reference from a document element On Amendments and Additions to the Law of the Republic of Uzbekistan "On Credit Information Exchange" Aimed at Further Improving Relations in the Credit Sector Send suggestions for the document Listen to audio Get a reference from a document element Adopted by the Legislative Chamber on January 14, 2025 Approved by the Senate on February 20, 2025 Send suggestions for the document Listen to audio Get a reference from a document element Send suggestions for the document Listen to audio Get a reference from a document element In recent years, significant work has been carried out in our country to facilitate the population's use of financial services, improve the quality and expand the scope of banking services, and simplify the procedures for granting loans. Send suggestions for the document Listen to audio Get a reference from a document element At the same time, the growing number of cases of granting loans in the names of citizens without their knowledge and misappropriating the provided funds using fraudulent methods requires the improvement of legal mechanisms for protecting citizens' interests in the lending sector. Send suggestions for the document Listen to audio Get a reference from a document element This Law introduces amendments and additions to the Law of the Republic of Uzbekistan "On Credit Information Exchange" that establish the right of individuals to set and remove a prohibition on entering into credit agreements with them, the procedure and conditions for including them in the Registry of Persons Prohibited from Entering into Credit Agreements, as well as the liability of users of credit information for entering into a credit agreement in violation of the established prohibition. Send suggestions for the document Listen to audio Get a reference from a document element In addition, measures and sanctions to be applied by the Central Bank of the Republic of Uzbekistan to credit bureaus for violating the legislative requirements regulating their activities are established. Send suggestions for the document Listen to audio Get a reference from a document element This Law serves to prevent cases of granting loans in the names of citizens without their knowledge and misappropriating the provided funds, as well as to improve the legal basis for the activities of credit bureaus. Send suggestions for the document Listen to audio Get a reference from a document element Article 1. The following amendments and additions shall be made to the Law of the Republic of Uzbekistan No. URQ-301 "On Credit Information Exchange" adopted on October 4, 2011 (Information Bulletin of the Chambers of the Supreme Assembly of the Republic of Uzbekistan, 2011, No. 10, Article 271; 2013, No. 4, Article 98; 2015, No. 8, Article 312; 2019, No. 3, Article 166; 2020, No. 1, Articles 1, 3; 2021, Supplement to No. 4, No. 10, Article 968; 2022, No. 3, Article 216, No. 4, Article 340; 2024, No. 2, Article 105): Send suggestions for the document Listen to audio Get a reference from a document element 1) Article 3 : Send suggestions for the document Listen to audio Get a reference from a document element the fourth paragraph shall be stated in the following wording: Send suggestions for the document Listen to audio Get a reference from a document element "subject of credit information — a legal or natural person participating in a credit agreement as the respective borrower (debtor), lessee, guarantor, surety, pledgor, and insurer, as well as a natural person who has submitted an application to credit bureaus regarding the inclusion of information on the prohibition of entering into a credit agreement by them or the removal of such prohibition"; Send suggestions for the document Listen to audio Get a reference from a document element the sixth paragraph shall be stated in the following wording: Send suggestions for the document Listen to audio Get a reference from a document element "user of credit information — a legal or natural person participating in a credit agreement as the respective creditor, lessor, pledgee, and insurer, as well as a legal entity that has the right to use credit information in accordance with legislation"; Send suggestions for the document Listen to audio Get a reference from a document element the seventh paragraph shall be supplemented with the following content: Send suggestions for the document Listen to audio Get a reference from a document element "Registry of Persons Prohibited from Entering into Credit Agreements — a single database maintained by credit bureaus containing information on natural persons prohibited from entering into credit agreements"; Send suggestions for the document Listen to audio Get a reference from a document element 2) Article 4 : Send suggestions for the document Listen to audio Get a reference from a document element shall be supplemented with the following fifth paragraph: Send suggestions for the document Listen to audio Get a reference from a document element "on the presence of a prohibition on entering into a credit agreement by a natural person in the Registry of Persons Prohibited from Entering into Credit Agreements or on the removal of such prohibition"; Send suggestions for the document Listen to audio Get a reference from a document element the fifth paragraph shall be considered the sixth paragraph; Send suggestions for the document Listen to audio Get a reference from a document element 3) Part Two of Article 5 : Send suggestions for the document Listen to audio Get a reference from a document element shall be supplemented with the following fifth paragraph: Send suggestions for the document Listen to audio Get a reference from a document element "on the date and time of submission of the application to prohibit or remove the prohibition on entering into a credit agreement by a natural person, the date and time of setting or removing the prohibition, and the conditions of the prohibition"; Send suggestions for the document Listen to audio Get a reference from a document element the fifth paragraph shall be considered the sixth paragraph; Send suggestions for the document Listen to audio Get a reference from a document element 4) Article 7 : Send suggestions for the document Listen to audio Get a reference from a document element shall be supplemented with the following second part: Send suggestions for the document Listen to audio Get a reference from a document element "The minimum amount of the authorized fund (authorized capital) of a credit bureau must be two billion soums"; Send suggestions for the document Listen to audio Get a document element the second to fifth parts shall be considered the third to sixth parts, respectively; Send suggestions for the document Listen to audio Get a reference from a document element in the fourth part the words "Not being a subject of small entrepreneurship" shall be deleted; Send suggestions for the document Listen to audio Get a reference from a document element 5) Part Two of Article 8 : Send suggestions for the document Listen to audio Get a reference from a document element the second paragraph shall be stated in the following wording: Send suggestions for the document Listen to audio Get a reference from a document element "the resolution of the general meeting of founders on the establishment of a credit bureau or the decision of a single founder on the establishment of a credit bureau"; Send suggestions for the document Listen to audio Get a reference from a document element the fourth paragraph shall be supplemented with the words "(founder)" after the word "founders"; Send suggestions for the document Listen to audio Get a reference from a document element the sixth paragraph shall be supplemented with the words "(authorized capital)" after the words "authorized fund"; Send suggestions for the document Listen to audio Get a reference from a document element 6) Article 12 : Send suggestions for the document Listen to audio Get a reference from a document element the ninth paragraph of the first part shall be stated in the following wording: Send suggestions for the document Listen to audio Get a reference from a document element "applies measures and sanctions to credit bureaus for violation of legislative requirements"; Send suggestions for the document Listen to audio Get a reference from a document element shall be supplemented with the following third part: Send suggestions for the document Listen to audio Get a reference from a document element "The procedure for maintaining the mutually agreed registry of persons prohibited from entering into credit agreements by credit bureaus is established by the Central Bank of the Republic of Uzbekistan"; Send suggestions for the document Listen to audio Get a reference from a document element 7) shall be supplemented with Article 12 1 of the following content: Send suggestions for the document Listen to audio Get a reference from a document element "Article 12 1 . Measures and Sanctions Applied to Credit Bureaus Send suggestions for the document Listen to audio Get a reference from a document element The Central Bank of the Republic of Uzbekistan applies measures and sanctions to credit bureaus for the following violations: Send suggestions for the document Listen to audio Get a reference from a document element failure to comply with legislative requirements regarding the exchange of credit information and the regulation of credit bureau activities; Send suggestions for the document Listen to audio Get a reference from a document element violation of the rights of consumers of credit bureau services; Send suggestions for the document Listen to audio Get a reference from a document element establishment of the fact that the license was obtained using forged documents. Send suggestions for the document Listen to audio Get a reference from a document element Upon detection of the violations specified in the first part of this Article, the Central Bank of the Republic of Uzbekistan has the right to apply the following measures and sanctions: Send suggestions for the document Listen to audio Get a reference from a document element sending mandatory instructions to credit bureaus regarding the elimination of violations detected in their activities, including the elimination of causes leading to the violation of the rights of consumers of credit bureau services; Send suggestions for the document Listen to audio Get a reference from a document element levying a fine in an amount of up to five thousand times the base calculation amount. Send suggestions for the document Listen to audio Get a reference from a document element In applying measures and sanctions, the Central Bank of the Republic of Uzbekistan takes into account: Send suggestions for the document Listen to audio Get a reference from a document element the nature, scale, and consequences of the violations; Send suggestions for the document Listen to audio Get a reference from a document element the systematicity and duration of the violations; Send suggestions for the document Listen to audio Get a reference from a document element the opportunity to change the situation as a result of the applied measures and (or) sanctions; Send suggestions for the document Listen to audio Get a reference from a document element the causes that led to the emergence of the detected violations; Send suggestions for the document Listen to audio Get a reference from a document element the effectiveness (efficiency) of previously applied measures and sanctions"; Send suggestions for the document Listen to audio Get a reference from a document element 8) Article 14 : Send suggestions for the document Listen to audio Get a reference from a document element the first part shall be supplemented with the following ninth paragraph: Send suggestions for the document Listen to audio Get a reference from a document element "providing information to subjects of credit information and users of credit information, upon their requests, on the presence or absence of a natural person in the Registry of Persons Prohibited from Entering into Credit Agreements"; Send suggestions for the document Listen to audio Get a reference from a document element the ninth and tenth paragraphs shall be considered the tenth and eleventh paragraphs, respectively; Send suggestions for the document Listen to audio Get a reference from a document element 9) Part Two of Article 16 shall be stated in the following wording: Send suggestions for the document Listen to audio Get a reference from a document element "Information permitted for submission in accordance with legislation: Send suggestions for the document Listen to audio Get a reference from a document element banks and non-bank credit organizations, as well as payment organizations carrying out microfinance activities — to the State Registry of Credit Information and to credit bureaus; Send suggestions for the document Listen to audio Get a reference from a document element leasing, insurance organizations, and organizations providing commodity consumer credits — to credit bureaus, must be submitted"; Send suggestions for the document Listen to audio Get a reference from a document element 10) shall be supplemented with Article 16 1 of the following content: Send suggestions for the document Listen to audio Get a reference from a document element " Article 16 1 . Inclusion of Information on Natural Persons in the Registry of Persons Prohibited from Entering into Credit Agreements Send suggestions for the document Listen to audio Get a reference from a document element A natural person may prohibit the conclusion of a credit agreement with them by submitting an application to the credit bureau to prevent the formalization of a credit agreement without their participation or knowledge. Send suggestions for the document Listen to audio Get a reference from a document element An application to prohibit or remove such a prohibition on entering into a credit agreement is submitted in electronic form through the Single Interactive State Services Portal of the Republic of Uzbekistan, or in written or electronic form by applying through state service centers or credit bureaus. Send suggestions for the document Listen to audio Get a reference from a document element Upon receipt of the application to prohibit or remove the prohibition on entering into a credit agreement, the credit bureau immediately includes it in the Registry of Persons Prohibited from Entering into Credit Agreements. Send suggestions for the document Listen to audio Get a reference from a document element The prohibition or removal of the prohibition on entering into a credit agreement is carried out voluntarily. In this case, these services are provided free of charge in the manner established by the Cabinet of Ministers of the Republic of Uzbekistan. Send suggestions for the document Listen to audio Get a reference from a document element The list of applications to prohibit the conclusion of credit agreements by natural persons is maintained by credit bureaus in the Registry of Persons Prohibited from Entering into Credit Agreements. Send suggestions for the document Listen to audio Get a reference from a document element The conclusion of a credit agreement is prohibited without obtaining information from the Registry of Persons Prohibited from Entering into Credit Agreements regarding the presence of a prohibition on entering into a credit agreement or the removal of such prohibition. In this case, banks or non-bank credit organizations, or payment organizations carrying out microfinance activities, are liable for the legal consequences arising from a credit agreement carried out without the participation or knowledge of a natural person. Send suggestions for the document Listen to audio Get a reference from a document element Users of credit information obtain information on natural persons from the Registry of Persons Prohibited from Entering into Credit Agreements free of charge"; Send suggestions for the document Listen to audio Get a reference from a document element 11) in the second paragraph of Part One of Article 17 the words "State Registry of Legal Entities and State Registry of Individual Entrepreneurs" shall be replaced with the words "Unified State Registry of Business Entities"; Send suggestions for the document Listen to audio Get a reference from a document element 12) Part One of Article 22 : Send suggestions for the document Listen to audio Get a reference from a document element the eighth paragraph shall be stated in the following wording: Send suggestions for the document Listen to audio Get a reference from a document element "refusal to consent to the submission of their credit report or prohibition (removal of prohibition) of its submission by credit bureaus"; Send suggestions for the document Listen to audio Get a reference from a document element shall be supplemented with the following tenth paragraph: Send suggestions for the document Listen to audio Get a reference from a document element "applying in the established manner with an application to prohibit or remove the prohibition on entering into a credit agreement"; Send suggestions for the document Listen to audio Get a reference from a document element the tenth paragraph shall be considered the eleventh paragraph; Send suggestions for the document Listen to audio Get a reference from a document element 13) Part One of Article 24 shall be stated in the following wording: Send suggestions for the document Listen to audio Get a reference from a document element "The provision and exchange of credit information is carried out only for the purpose of assessing risks in the conclusion, modification, and monitoring of the execution of credit agreements, including by evaluating subjects of credit information based on ratings, as well as for other purposes established by legislation". Send suggestions for the document Listen to audio Get a reference from a document element Article 2. The Central Bank of the Republic of Uzbekistan and other interested organizations shall ensure the implementation of this Law, its delivery to executors, and the explanation of its essence and importance among the population. Send suggestions for the document Listen to audio Get a reference from a document element Article 3. The Cabinet of Ministers of the Republic of Uzbekistan: Send suggestions for the document Listen to audio Get a reference from a document element shall align government decrees with this Law; Send suggestions for the document Listen to audio Get a reference from a document element shall ensure that republican executive authorities review and repeal their normative legal documents that contradict this Law. Send suggestions for the document Listen to audio Get a reference from a document element Article 4. This Law enters into force three months after the date of its official publication. Send suggestions for the document Listen to audio Get a reference from a document element This Law enters into force from July 1, 2026, with the exception of the ninth paragraph of paragraph 7 of Article 1 of this Law. Send suggestions for the document Listen to audio Get a reference from a document element President of the Republic of Uzbekistan Sh. MIRZIYOYEV Send suggestions for the document Listen to audio Get a reference from a document element Tashkent, Send suggestions for the document Listen to audio Get a reference from a document element March 4, 2025, Send suggestions for the document Listen to audio Get a reference from a document element No. URQ-1043 (Milliam Information Database of Legislative Information, 05.03.2025, No. 03/25/1043/0217)