Uzbekistan may implement a self-imposed ban on issuing loans.

In Uzbekistan, a self-imposed ban on issuing loans is being considered, as lawmakers have approved the relevant bill in its first reading.

The amendments have been developed to provide additional protection against illegal actions by offenders during the loan provision process to individuals.

The authorities plan to introduce a mechanism for voluntarily refusing to process a loan. Consequently, a registry of individuals with whom credit transactions are prohibited is expected to be established.

In Uzbekistan, fraudsters have increasingly been stealing money by taking out loans in the names of residents without their participation or knowledge. The bill includes:

• the establishment of a registry of individuals prohibited from entering into loan agreements;
• the possibility of banning a loan transaction without their participation or notification by submitting a request to the credit bureau associated with the loan transaction;
• the establishment of a minimum charter capital for credit bureaus set at 2 billion sums;
• the introduction of measures and sanctions from the Central Bank against credit bureaus for violations.

It is noted that these changes will allow individuals to prevent the conclusion of loan agreements without their participation or knowledge.

Previously, the Central Bank announced that commercial bank call centers in Uzbekistan will now operate around the clock to handle reports of lost cards or their misuse.

Additionally, a special structure will be created in banks to address inquiries, with staff dedicated to thoroughly examining all complaints and regulating their resolution.

It is worth mentioning that Uzbeks have started to take out more microloans and loans. The peak of loan issuance occurred in June 2024.