Regulatory Alerts2023-01-24 | 3042-3Added
Resolution of the Board of the Central Bank of the Republic of Uzbekistan on Introducing Amendments and Additions to the Regulation on Registration of Credit Bureaus and Licensing of Their Activities
This resolution introduces amendments and additions to the Regulation on Registration of Credit Bureaus and Licensing of Their Activities, requiring credit bureaus to implement licensed and certified information security software that includes scoring tools for assessing borrower creditworthiness. The scoring software must integrate with the credit information exchange system and contain questionnaire questions, scoring procedures, coefficients, and mathematical models. Licenses are now issued as electronic documents with a QR code for online verification, and the Central Bank must notify applicants of decisions within one business day. Paragraphs 34 through 36 of the original Regulation are declared invalid, and various procedural terms regarding document submission and license suspension are updated.