Regulatory Alerts2000-02-22 | 429Added · Updated
Regulations on Requirements for Commercial Bank Credit Policy
The Central Bank of Uzbekistan approved regulations establishing mandatory requirements for the credit policies of commercial banks. The document mandates that banks develop, approve, and submit their credit policies to the Central Bank within 15 days, covering risk management, lending limits, collateral standards, and interest rate caps. It specifically prohibits charging interest exceeding half the principal amount on microloans and requires the transparent calculation and disclosure of the total cost of consumer credit.