New analytical data on debt obligations of citizens who have taken loans from banks in Uzbekistan has been published. According to the results of the first national financial literacy index prepared by the Central Bank, 29 percent of customers who have taken loans from banks have more than one credit obligation at the same time.
According to the data, nearly every third borrower has more than one loan
Currently, 20 percent of the adult population has active loan accounts in commercial banks. Another 7 percent of the population uses the services of official and regulated microfinance organizations.
At the same time, nearly 80 percent of newly issued retail loans are being processed through an automated credit conveyor, without human involvement.
It is noted that information on 98 percent of the adult population has been included in the credit bureau database. This allows financial organizations to assess the borrower's credit history, current obligations, and overall debt burden.
According to the Central Bank, in the process of expanding the scope of lending, it is important to fully take into account the existing obligations of each borrower, adapt the loan terms to his or her solvency, and timely identify the risk of excessive indebtedness.
