The Central Bank has approved regulation on minimum requirements for commercial banks when they issue loans. This was stated in the Bank’s October 28 Resolution. The novelties will take effect on January 29, 2026.

Banks are now required to provide individuals with a standard checklist containing information about the potential risks associated with loan obligations.

A hard or soft copy document shall be given to the client. The borrower must review each item on the checklist and confirm this with a signature or electronic mark. Without such confirmation, the loan agreement cannot be finalized.

The checklist will include information that the loan is deemed a financial obligation that the borrower must repay, confirmation that they have reviewed the repayment schedule and are aware of the consequences of late payments.

The consumer will have to agree that they have taken into account their monthly income and regular expenses, as well as the likelihood of unforeseen circumstances that may lead to default on loan obligations.

No more Unfair Practices

In addition, a ban will be imposed on pre-filling forms without the user's knowledge and the use of "dark patterns" – pre-checked boxes, auto-filled data, and the ability to consent without fully reviewing the contract text.

The client must independently select parameters and fill in the fields. These include requesting a credit report, receiving promotional information, connecting to remote services, collecting overdue debt, confirming familiarization with the general terms and conditions of banking services, acceptance of bank tariffs, etc.

Banks are prohibited from:

• offering loans exceeding the requested amount specified by client in the application;
• collecting debt from social benefits and assistance transferred to individuals by the state;
• demanding early repayment of payments before the calendar date set in the schedule (except for automatic payments initiated by the client).

These rules are aimed at preventing excessive debt and protecting socially vulnerable groups of the population.

Each bank will also be required to develop and publish an internal procedure for considering applications for loan restructuring for clients facing financial difficulties, life circumstances, or force majeure.

The procedure must include types of restructuring (extension of terms, revision of interest rates, reduction of fines and penalties), grounds for its implementation, deadlines and criteria for considering applications, as well as rules for notifying clients of the decision made.

The resolution has separately stipulated that women on maternity leave could apply for an extension of payment timelines for up to 10 months.

A new section has been inserted into the document, obliging banks to inform clients about the deposit guarantee system. Banks must display information on stands and on their website, provide it when concluding contracts and through remote services.

The website must have a visible link with the message "Your deposits are guaranteed," leading to the official website of the Deposit Guarantee Agency.

When signing a contract, the administrator is obliged to familiarize the depositor with the information in a standard form and obtain their signature. In the case of remote opening of a deposit, the bank must provide the opportunity to review the document before concluding the contract.

It should be noted that in the event of a bank's liquidation, the total amount of compensation paid to each depositor, taking into account accrued interest on the deposit, does not exceed 200 million soums. The payment period will be within 20 business days from the date of the decision to liquidate (close) the bank. From January 1, 2026, it will be reduced to 15 business days, and from January 1, 2027, to 7 business days.

In August, the Central Bank presented a draft document on risks associated with loans for public discussion, arguing its necessity by the fact that not all borrowers understand the consequences of non-fulfillment of loan obligations and the debt burden of the population of Uzbekistan remains high.