Governor of the Central Bank Mamarizo Nurmuratov commented the adoption of restrictions on online loans in Uzbekistan at a press conference on Firday.
As previously reported, from November 1 to April 1, 2025, a new temporary procedure for issuing online loans will take effect in Uzbekistan to prevent fraud, when loans are issued to individuals and then funds are withdrawn from bank cards through p2p transactions.
To address these cases, a “cooling period”, biometric identification and other measures will reportedly be adopted.
“We have overly liberalized the digital banking,” Nurmuratov said.
He added that after the end of the temporary procedure, restrictions on online loans will remain. Within five months, the Central Bank plans to finalize and test the mechanisms that will determine the basis for future online payments and transfers.
The Governor Nurmuratov indicated that the main goal was the safety of individuals’ money. In addition to the income of payment organizations and banks, it is necessary to ensure the safety of funds, Nurmuratov emphasized.
