Decision of the Management of the Central Bank of the Republic of Uzbekistan

Decision

On Amendments and Additions to the Regulation on Requirements Relating to the Credit Policy of Commercial Banks

Registered by the Ministry of Justice of the Republic of Uzbekistan on 29 August 2019, registration number 905-6

Decision of the Management of the Central Bank of the Republic of Uzbekistan, No. 905-6, registered on 29.08.2019

Effective date

29.08.2019

All

24.12.2021

29.09.2019

29.08.2019

Form

Russian

Uzbek

O’zb

Uzbek|Russian


Document lost force on 24.12.2021

OKOZ:

1.07.00.00.00 Legislation on finance and credit. Banking activity / 07.22.00.00 Lending / 07.22.03.00 Credit of commercial banks

TSZ:

Finance / Banks and other credit institutions. Credits

Decision

On Amendments and Additions to the Regulation on Requirements Relating to the Credit Policy of Commercial Banks

This decision, according to the Management of the Central Bank of the Republic of Uzbekistan’s decision No. 20/8 dated 31 August 2021 titled “On determining that the Regulation on Requirements Relating to the Credit Policy of Commercial Banks, as well as its amendments and additions, has lost its force”, decision (registration number 905-7, 23.09.2021), shall lose its force as of 24 December 2021.

In accordance with the laws of the Republic of Uzbekistan “Law on the Central Bank of the Republic of Uzbekistan”, “Law on Banks and Banking Activities”, and the President of the Republic of Uzbekistan’s decision No. PQ-4400 dated 23 July 2019 “On measures to increase the popularity of micro‑financial services”, decision, the Management of the Central Bank of the Republic of Uzbekistan decides:

Amendments and additions shall be made to the Regulation on Requirements Relating to the Credit Policy of Commercial Banks in accordance with the annex to the Regulation on Requirements Relating to the Credit Policy of Commercial Banks approved by the Management of the Central Bank of the Republic of Uzbekistan on 22 February 2000, No. 429 (registration number 905, 2 March 2000) (Information Bulletin of the Ministries, State Committees and Agencies of the Republic of Uzbekistan, 2000, No. 5).
This decision shall enter into force on the day of its official announcement.

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

10 August 2019,

No. 18/6

Decision No. 18/6 of the Management of the Central Bank of the Republic of Uzbekistan dated 10 August 2019

APPENDIX

Amendments and Additions to the Regulation on Requirements Relating to the Credit Policy of Commercial Banks

Paragraph 1.5 shall be expressed in the following wording:

1.5. The bank’s credit policy must be reviewed by the Bank Board at least once a year, within the period up to 1 February of the relevant year.

During the year, changes and additions to the credit policy may be made as needed. If changes and additions are being made to at least 50 percent of the credit policy, it is appropriate to adopt the credit policy in a new version.

Paragraph 1.51 shall be added with the following content:

1.51. The bank’s credit policy, together with any changes and additions or its new version, must be submitted to the Central Bank within 15 days after approval by the Bank Board.

If the Bank Board adopts a decision that there is no need to make changes or additions to the bank’s credit policy, a copy of the Board’s meeting minutes shall be submitted to the Central Bank within 15 days from the day this decision is adopted.

Paragraph 2.3 shall be filled with the following provisions:

The credit policy must include the following prohibitive rules for banks:

granting credits (loans) in foreign currency to natural persons and accounting for their obligations under such credits (loans) in foreign currency;

providing new micro‑financial services to natural persons in cases where there is an outstanding overdue debt on previously granted credits (loans).

(National Database of Legal Documents, 29.08.2019, No. 10/19/905-6/3667)