Resolution of the Board of the Central Bank of the Republic of Uzbekistan on Amendments and Additions to the Resolution on Approval of the Regulation on Regulating the Debt Burden of Borrowers Individuals

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on April 21, 2025, registration number 3205-4

Date of Entry into Force

July 24, 2025

All

View

Russian

Uzbek

Uzb

Uzb|Russian

[OKON:

1.21.00.00.00 Complex documents for amendments and additions / 21.04.00.00 Departmental normative legal documents]

[TSZ:

1. State and public structure / Legislative initiative. Norm-making activity]

RESOLUTION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTON

On Amendments and Additions to the Resolution "On Approval of the Regulation on Regulating the Debt Burden of Borrowers Individuals"

[Registered by the Ministry of Justice of the Republic of Uzbekistan on April 21, 2025, registration number 3205-4]

In accordance with the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions shall be made to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated September 28, 2019, No. 24/5 "On Approval of the Regulation on Regulating the Debt Burden of Borrowers Individuals" (registration number 3205, December 19, 2019) (National Database of Legal Acts, 2019, No. 10/19/3205/4177-4) in accordance with the Appendix.

2. This Resolution has been agreed upon with the Chamber of Commerce and Industry of the Republic of Uzbekistan.

3. This Resolution shall enter into force three months after the date of its official publication.

Chairman T. ISHMETOV

Tashkent city,

April 8, 2025,

No. 7/4

Agreed:

Chairman of the Chamber of Commerce and Industry D. VAKHABOV

April 2, 2025

Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated April 8, 2025, No. 7/4 Resolution

APPENDIX

Amendments and Additions to be Made to the Resolution "On Approval of the Regulation on Regulating the Debt Burden of Borrowers Individuals"

1. In the Resolution:

a) the [name](/docs/4654149?ONDATE=17.12.2022 00#6199379) shall be stated in the following wording:

"On Approval of the Regulation on Regulating the Debt Burden of Borrowers Individuals for Loans (Microloans) Granted by Microfinance Organizations and Pawnshops";

b) [Clause 1](/docs/4654149?ONDATE=17.12.2022 00#6199432) shall be stated in the following wording:

"1. The Regulation on Regulating the Debt Burden of Borrowers Individuals for Loans (Microloans) Granted by Microfinance Organizations and Pawnshops shall be approved in accordance with the Appendix.".

2. In the [Regulation](/docs/4654149?ONDATE=17.12.2022 00#6199439):

a) the [name](/docs/4654149?ONDATE=17.12.2022 00#6199439) shall be stated in the following wording:

"Regulation on Regulating the Debt Burden of Borrowers Individuals for Loans (Microloans) Granted by Microfinance Organizations and Pawnshops";

b) the [preamble](/docs/4654149?ONDATE=23.03.2024 00#6817498) shall be stated in the following wording:

"This Regulation establishes the procedure for calculating the debt burden indicator and its permitted amount when non-bank credit organizations (hereinafter referred to as non-bank credit organizations in the text) grant loans (microloans) to borrower individuals, as well as the maximum daily interest rates for loans (microloans) granted to individuals by non-bank credit organizations.";

d) in [Clause 1](/docs/4654149?ONDATE=20.03.2020 00#4656928):

the [second bullet point](/docs/4654149?ONDATE=23.03.2024 00#6817516) shall be supplemented with the word "non-bank" before the words "credit institution";

the [fourth bullet point](/docs/4654149?ONDATE=17.12.2022 00#6199479) shall be stated in the following wording:

"lender — a bank, a non-bank credit organization, a payment institution carrying out microfinance activities, and an organization granting commodity consumer credit;";

the [sixth bullet point](/docs/4654149?ONDATE=20.03.2020 00#4656934) shall be stated in the following wording:

"average monthly payment amount — the average monthly value of payments for the application(s) (applications) of the borrower under consideration by the lender for the granting of a loan (microloan), as well as for all loan (microloan) contracts concluded by the borrower with all lenders, as well as for loan (microloan) contracts in which the borrower participates as a guarantor and/or co-borrower;";

a new eighth bullet point with the following content shall be added:

"refinancing of a loan — the granting of a loan (microloan) by a non-bank credit organization on acceptable terms for the purpose of repaying a loan (microloan) obtained by the borrower from other lenders;";

the [eighth bullet point](/docs/4654149?ONDATE=20.03.2020 00#4656939) shall be considered the ninth bullet point;

in the [ninth bullet point](/docs/4654149?ONDATE=20.03.2020 00#4656939), the words "persons*"* shall be replaced with the word "person";

e) in [Clause 2](/docs/4654149?ONDATE=23.03.2024 00#6817576):

the [first bullet point](/docs/4654149?ONDATE=23.03.2024 00#6817576) shall be deleted;

the [second to sixth bullet points](/docs/4654149?ONDATE=23.03.2024 00#6817577) shall be considered the first to fifth bullet points, respectively;

the [first bullet point](/docs/4654149?ONDATE=23.03.2024 00#6817577) shall be stated in the following wording:

"The debt burden indicator shall be calculated for each borrower when a non-bank credit organization grants a loan (microloan), including in cases of increasing the average monthly payment amount for this loan (microloan) (except for cases where the payment amount is increased due to an increase in the variable interest rate specified in the contract), increasing the lending limit, extending the term, and when a decision is made to purchase the rights (claims) of another lender regarding the loan (microloan) or to refinance the loan (hereinafter referred to as granting a loan (microloan) in the text).";

the [third bullet point](/docs/4654149?ONDATE=23.03.2024 00#6817579) shall be deleted;

the [fourth and fifth bullet points](/docs/4654149?ONDATE=23.03.2024 00#6817581) shall be considered the third and fourth bullet points, respectively;

in the [third bullet point](/docs/4654149?ONDATE=23.03.2024 00#6817581), the words "microfinance organization and pawnshop" shall be replaced with the words "non-bank credit organization";

f) [Clause 3](/docs/4654149?ONDATE=20.03.2020 00#4656947) shall be stated in the following wording:

"3. When the rights (claims) of another lender regarding a loan (microloan) are purchased or the loan is refinanced by a non-bank credit organization, the payments of the borrower for this loan (microloan) shall not be counted again in the calculation of the debt burden indicator.";

g) in [Clause 4](/docs/4654149?ONDATE=20.03.2020 00#4656951):

in the [third bullet point](/docs/4654149?ONDATE=23.03.2024 00#6817529), the words "lender" and "creditors" shall be replaced with the words "non-bank credit organization" and "lenders", respectively;

the [fourth bullet point](/docs/4654149?ONDATE=20.03.2020 00#4656983) shall be supplemented with the word "all" after the words "existing";

h) [Clause 41](/docs/4654149?ONDATE=23.03.2024 00#6817597) shall be stated in the following wording:

"41. If the repayment period of a loan (microloan) based on the loan (microloan) contract exceeds 36 months, all payments for the loan (microloan) shall be distributed equally over 36 months in the calculation of the average monthly payment amount for the debt burden.";

i) [Clause 5](/docs/4654149?ONDATE=20.03.2020 00#4657000) shall be stated in the following wording:

"5. The non-bank credit organization calculates the average monthly payments using information provided by the credit bureau in the credit report and information obtained from other official sources of the non-bank credit organization.";

j) in [Clause 6](/docs/4654149?ONDATE=23.03.2024 00#6817532), the words "from one calendar month" shall be replaced with the words "from 10 calendar days";

k) in the [second bullet point of Clause 7](/docs/4654149?ONDATE=23.03.2024 00#6817538), [Clause 8](/docs/4654149?ONDATE=17.12.2022 00#6199549), and the [first bullet point of Clause 11](/docs/4654149?ONDATE=03.05.2023 00#636599), the words "Lender" shall be replaced with the words "Non-bank credit organization";

l) in [Clause 9](/docs/4654149?ONDATE=17.12.2022 00#6199559):

in the [first bullet point](/docs/4654149?ONDATE=17.12.2022 00#6199559), the words "Lender" shall be replaced with the words "Non-bank credit organization";

the [eighth bullet point](/docs/4654149?ONDATE=23.03.2024 00#6817622) shall be stated in the following wording:

"In this regard, the non-bank credit organization may use information other than the documents listed in the second to seventh bullet points of this clause.";

the [ninth](/docs/4654149?ONDATE=23.03.2024 00#6817637) and [tenth bullet points](/docs/4654149?ONDATE=23.03.2024 00#6817639) shall be deleted;

m) [Clause 10](/docs/4654149?ONDATE=23.03.2024 00#6817654) shall be stated in the following wording:

"10. When granting a loan (microloan), the debt burden indicator of an individual shall not exceed 50 percent, except for the cases specified in the third and fourth bullet points of Clause 2 of this Regulation.";

n) the [appendix sign](/docs/4654149?ONDATE=03.05.2023 00#6376651) of the appendix shall be stated in the following wording:

"APPENDIX to the Regulation on Regulating the Debt Burden of Borrowers Individuals for Loans (Microloans) Granted by Microfinance Organizations and Pawnshops".

(, April 23, 2025, No. 10/25/3205-4/0377-4)