According to the law, the registry of individuals prohibited from entering into a credit agreement — is a unified database that includes information about individuals prohibited from entering into credit agreements and is maintained by credit bureaus.
The Central Bank defines the procedure for the operation of such a coordinated registry by credit bureaus.
It has also been established that the minimum amount of the charter fund (charter capital) of a credit bureau must be 2 billion UZS.
The Central Bank applies measures and sanctions for the following violations committed by credit bureaus:
- non-compliance with the legislation regulating credit information exchange and the activities of credit bureaus;
- violating the rights of consumers of credit bureau services;
- facts of obtaining a license using counterfeit documents have been identified.
The Central Bank is authorized to send mandatory instructions to eliminate these violations and apply fines up to 5,000 times the minimum wage.
Furthermore, an individual can prohibit entering into a credit agreement on their behalf without their participation or knowledge by submitting an application to the credit bureau.
The prohibition or removal of such a prohibition on entering into a credit agreement is carried out voluntarily.
