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Uzbekistan adopts the Law 'On exchange of credit information'

24.01.2012 2375

7th of October, 2011

President of Uzbekistan Islam Karimov signed the Law 'On exchange of credit information', October 4, 2011. 

The law was passed by the Legislative Chamber on August 11, 2011, approved by the Senate on August 26, 2011 and will come into force on January 1, 2012. 

The Law 'On exchange of credit information' consists of 28 clauses and is aimed at regulating relations in the field of credit information sharing. 

The bill defines basic concepts on the exchange of credit information, the order of state registration and licensing of credit bureaus, the mechanisms of reorganization and liquidation of credit bureaus, the authority of the Central Bank of Uzbekistan, rights and responsibilities of credit bureaus, suppliers, users and subjects of credit information, the need for protection of credit information, restrictions on the provision and exchange of credit information, dispute resolution and liability for violation of the legislation on the exchange of credit information. 

In accordance with the law the credit bureau is a legal entity established in accordance with the legislation and providing services of exchange of credit information. 

Credit bureaus act under licenses. 

State registration of a credit bureau and the issuance of a license are made by the Central Bank of the Republic of Uzbekistan. 

For state registration of credit bureaus and issuing them licenses a statement should be submitted to the Central Bank of the Republic of Uzbekistan showing the location (postal address), with a record of the general meeting of founders to establish a credit bureau, the constituent documents of a credit bureau, information about the director and founder of the credit bureau, documents confirming that parameters and placement of program-technical complex, ensuring the protection of credit information from unauthorized access, destruction, modification, use or disclosure, comply with the requirements of the Central Bank of the Republic of Uzbekistan; bank document confirming the formation of the statutory fund of the credit bureau, bank payment bill for state registration. 

In some cases, the Central Bank of the Republic of Uzbekistan may refuse to register and provide license for a credit bureau. 

In accordance with the law, the credit bureau is entitled to conclude agreements on exchange of credit information, as well as perform other transactions in accordance with the law, require credit suppliers to provide objective, reliable and updated credit information, provide consulting and other services to users of credit information to help them in assessing the creditworthiness, financial condition and solvency of payment discipline of credit information entities, assist credit information providers, facilitate provision of credit information, develop and use methods of calculating ratings of credit information entities, request credit information in other credit bureaus. 

At the same time a credit bureau is obliged to maintain a database of credit information in electronic form and update it regularly; to enter credit information in the credit history no later than the next working day from the date of its receipt; to ensure objectivity and accuracy of credit information; to create information security services; to exchange credit information only in accordance with the purposes specified in the Law; help entities, suppliers and users of credit information in detection and correction of false or distorted data in the credit information; to explain the methodology for calculating the ratings of the subject's credit information and the factors that influenced the subject's credit rating information at the request of the entity or user of credit information; provide the Central Bank of the Republic of Uzbekistan with statements and other information on their activities in time; provide storage of credit information for five years. The credit bureau may have other duties in accordance with the legislation and the agreement on the exchange of credit information. 

Providers of credit information, credit institutions are obliged to provide information to the National Register of credit information and credit bureaus. 

Credit information is provided, usually in electronic form. Credit information on paper is defined in the agreement on exchange of credit information. 

Suppliers provide credit information to credit bureaus without the consent of the credit information subject. Credit bureaus can communicate with each other without the consent of the credit information subject. The provision of credit information in the prescribed manner to credit bureaus is not a violation of commercial, banking or other secrets protected by law. 

Credit information is provided by credit bureau at request: 
- by authorities responsible for state registration of legal entities and individual entrepreneurs: in the amount of information included in the State Register of legal entities and State Register of individual entrepreneurs; 
- by authorities responsible for state registration of rights to property and transactions: in the amount of information included in the State Register of rights to real property and other databases on real property with public access; 
- by state tax services: on the credentials of taxpayers and their financial reporting; 
- by bodies of internal affairs: on passports issued, including the return of lost or expired passports, as well as information on registration of motor vehicles and their owners (owners); 
- by public notarial offices: on no prohibition of alienation or the arrest of an object that is the subject for transaction; 
- by authorities issuing license, and (or) other approvals: on facts of issuance of these documents, suspension or termination, and (or) other approvals, as well as cancellation and reissue. 

Credit bureau provides credit report credit for the user of credit information only with the consent of the credit information subject. 

Credit bureaus, providers and users of credit information must ensure storage and protection of credit information from unauthorized access, destruction, modification, use or disclosure. 

Credit bureaus, suppliers, and users of credit information, their managers and other employees have no right to disclose information obtained in the exchange of credit information. 

Individuals who were entrusted or became aware of information in connection with their duties or provided within the Law that constitutes credit information also have no right to disclose such information after termination of their employment (contract). 

Provision and exchange of credit information are made only in order to assess the risk when entering into, modifying and monitoring the execution of credit transactions, including by rating credit information subjects. 

Provision of credit information, credit history, credit reports and other information to non-users of credit information is prohibited.

UzReport 07.10.2011


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License of the Central Bank of the Republic of Uzbekistan No. 22 dated Dec. 25, 2022
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Правила выдачи кредитов частным лицам
Определение кредитоспособности заемщика
1.1. При выдаче кредита частному лицу банк проводит анализ кредитоспособности заемщика.
1.2. Кредитоспособность заемщика определяется на основании его финансовой и кредитной истории, а также текущей финансовой ситуации.
1.3. Для определения кредитоспособности могут быть использованы следующие критерии
Условия выдачи кредита
При выдаче кредита частному лицу банк устанавливает следующие условия:

  • сумма кредита;
  • процентная ставка;
  • срок погашения кредита;
  • график платежей

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To unblock the card, you must contact the bank branch where the card was opened  with your identity document.
SMS notification for the Uzcard card can be activated through an ATM. SMS notification for the Humo card is activated through the bank branch where the card was opened.
You can order all cards in national and foreign currency remotely using the Milliy App.
  • If you have forgotten your card PIN, please come with your identity document to the bank where the card was opened.
  • If you the card (UzCard/HUMO) is lost, you can block it yourself using the Milliy Bank App or call (78) 148-00 10 and ask the operators to block the card.
The identification procedure is carried out remotely, directly in the Milliy application itself. To do this, on the main screen in the application, click on the photo_2023-04-28_11-16-22.jpg icon in the upper left corner, and then select the “Identification” option from the menu and go through all its stages.
  • To change the phone number registered in the Milliy App, please come to the NBU branch which is convenient for you with your identity document.
  • An e-wallet is a system to store funds, as well as transfer money through an app to an account or bank card.
  • When you reset your password, you enter the "secret question answer"
Currently, the NBU offers the following international money transfers: Western Union, MoneyGram, KoronaPay, Asia Express, Contact, Unistream, Swift, as well as Sberbank.
Users of the Milliy Mobile App can receive transfers from Russia using the Sberbank Online service to an electronic wallet in national currency, to an UzCard or HUMO card of the NBU.

The transfer is made in rubles. Upon receipt on an electronic wallet or card, it is automatically converted into UZS. No additional fees are charged.
  • Visa Direct is a service for money transfer using the Milliy Mobile App to more than 50 countries of the world, including Visa cards of Uzbekistan banks.
  • identity document
  • MTCN or the tracking number
  • full name of remitter
  • country of remitter
  • expected amount of money
It is possible to remotely open, replenish and independently monitor the NBU's deposits using the Mobil App.
  • If you want to transfer the right to dispose of your deposit to a third party, you must execute a power of attorney certified through a notary office.
  • No, you don't. The online deposit can be closed through the app.
  • Capitalization is the addition of accrued interest to the principal amount of the deposit.
  • This is the deposit with no fixed withdrawal period and the depositor can withdraw the funds at any time.
- Passports of founders, director, chief accountant;
- Order for Director’s appointment;
- Certificate of state registration;
- Decision of founders;
- Licenses;
- Cadastre file/ data sheet for the collateral;
- Photo of the collateral;
- Contract with the supplier;
- Copy of the rental agreement/ certificate
- Certificate of ownership for the premises used for business;

This list is not exhaustive for loan consideration and the consideration and Bank staff may request other information and documents regarding project concerned.
Time for processing takes 1-3 days depending on the completeness of the documents submitted.
Various collateral, including real estate, motor vehicles, as well as sureties of individuals or legal entities are accepted.
Penalty-free early repayment of the loan is permitted
The period of registration of the company must exceed 1 year
It's worth noting that insurance and collateral costs may be in addition to the principal interest for the loan. However, there are no hidden costs.

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