of March 4, 2025 No. ZRU-1043
About modification and amendments in the Law of the Republic of Uzbekistan "About exchange of credit information", the relations directed to further enhancement in the field of crediting
Accepted by Legislative house on January 14, 2025
Approved by the Senate on February 20, 2025
In recent years in the country considerable work on simplification of access of the population to financial services, improvement of quality and expansion of range of banking services, simplification of procedures of loan granting is done.
At the same time growth of cases of issuance of credits addressed to citizens without their permission and assignment of the provided money using fraudulent methods requires enhancement of legal mechanisms of protection of interests of citizens in the field of crediting.
This Law to the Law of the Republic of Uzbekistan "About exchange of credit information" makes the changes and additions providing the rights of physical persons to establishment and removal of prohibition on the conclusion with them credit deals, procedure and conditions of their inclusion in the Register of persons who are forbidden to conclude credit deal, and also establishment of responsibility of users of credit information for the conclusion of credit deal in defiance of the established prohibition.
Besides, the measures and sanctions applied by the Central bank of the Republic of Uzbekistan concerning credit bureaus for violations by them of requirements of the legislation regulating their activities are determined.
This Law will serve prevention of cases of issuance of credits addressed to citizens without their permission and assignment of the provided money, and also to enhancement of the legal basis of activities of credit bureaus.
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