In the coming days, Uzbekistan is expected to enact a new law prohibiting individuals from taking out loans for themselves. This was announced by Mirsardor Usmonov, the CEO of Credit Bureau – CRIF credit information services here.
An individual can choose to prohibit themselves from taking out loans and thereby protect themselves from excessive financial obligations.
Once the new regulation comes into force, it will be possible to apply through the Unified Portal of State Services, state service centers, or credit bureaus. This service will be provided free of charge.
A special registry will be maintained for individuals who have prohibited themselves from obtaining loans. If an individual wishes to remove the prohibition, they can apply through these platforms.
The law is currently under review by the parliament.
