Loan self-restriction service gains popularity among young people in Uzbekistan

Almost 150,000 Uzbek citizens have voluntarily set a ban on obtaining loans, according to the Credit Information and Analytical Center (CIAC), which shared the data on its Telegram channel.

As of October 1, a total of 149,465 individuals had joined the free service that allows citizens to place a self-restriction on credit issuance. In terms of gender, men represent the majority – over 101,400 users – while women account for 47,900.

The service is most popular among citizens aged 26–35, who make up one-third of all users. They are followed by people aged 36–45 (25.6%) and those under 26 (19.2%).

When the self-restriction service was launched in June, just over 33,100 people registered. The number has since grown steadily: 37,600 in July, 37,800 in August, and 40,800 in September. CIAC has not yet released data for October.

Citizens can also activate the self-restriction through the Unified Portal of Interactive Government Services or its mobile app.

Background

On March 4, President Shavkat Mirziyoyev signed a law introducing self-restrictions on obtaining loans. Amendments to the Law on the Exchange of Credit Information allow individuals to prohibit or lift the ability to enter into credit agreements.

The self-restriction mechanism is designed to prevent loans from being issued without the citizen’s knowledge or consent. Applications to activate or remove the restriction can be submitted directly to a credit bureau, through a government service center, or via the Unified Portal of Interactive Government Services.

Once an application is received, the credit bureau must immediately enter the applicant’s name into the registry of individuals prohibited from entering credit transactions. The service is free of charge, and the exact procedure is determined by the Cabinet of Ministers.

Banks, microfinance institutions, and other credit organizations are prohibited from issuing loans without verifying whether a borrower is listed in the self-restriction registry. They will be held legally accountable for any consequences arising from issuing loans without the person’s consent or involvement.