These changes are aimed at aligning the regulatory framework with the norms of legislation concerning the exchange of credit information and self-imposed bans on credit transactions, which should enhance risk management in the financial sector.
Macroeconomic Situation: Considering the growth of the credit portfolio by 22% (up to 320 billion soms as of October 1, 2025) and a reduction in the share of non-performing loans to 4.8%, the new amendments are aimed at minimizing systemic risks, supporting responsible lending, and incorporating principles of Islamic financing (the volume of the segment amounted to 28 billion soms, increasing by 15% over the year).
Main Changes:
- Citizens can now establish or cancel a self-imposed ban on obtaining loans through the state electronic services portal.
- Credit institutions are required to check for self-imposed bans in credit bureaus and deny loan issuance if such a ban is in effect.
- Requirements for asset classification, provisions for potential losses, and credit risk management have been tightened, including Islamic operations and collateral management.
Current Regulatory Acts (1998–2024):
1. Rules for Trust Management of Commercial Banks (1998 No. 34/9).
2. Regulation of Microfinance Organizations (2003 No. 4/2).
3. Asset Classification and Provisions (2004 No. 18/3).
4–5. Islamic Operations and Standard Contracts (2009 No. 38/8, 39/4).
6–9. Minimum Risk Requirements in Credit Unions and Consolidated Acts (2009–2011).
10. Islamic Operations of MFOs and Credit Unions (2011 No. 60/8).
11. Working with Pledged Property (2012 No. 28/7).
12–15. Minimum Risk Requirements (2013 No. 35/13–52/7).
16. Islamic MFOs (2014 No. 24/11).
17. Specialized Financial Institutions (2016 No. 12/4).
18. Economic Standards for Banks (2022 No. 2022-П-12/78-7).
19. Regulation of JSC "Financial Company of Credit Unions" (2024 No. 2024-П-12/12-2).
The resolution will come into effect 7 working days after its official publication.
