President of Uzbekistan Shavkat Mirziyoyev signed amendments to the Law “On Consumer Credit”, which provide for the issuance of consumer loans for imported goods.
The Legislative Chamber of the Oliy Mazhlis (parliament) adopted the corresponding document on January 17, and the Senate on March 2. The law comes into force on April 11.
According to the Uzbek media, previously consumer loans in Uzbekistan were issued only for domestic cars, household appliances, goods and services. From now on, it is allowed to allocate a loan for goods and services not produced in Uzbekistan.
In addition, individuals could not receive a consumer loan for buying a car in the secondary market from other citizens, so they were forced to include a legal entity as a third party that took a commission for their services.
From now on, the financial consumer loan is issued by transferring money or other credit organization of money to the bank account of the manufacturer or subject (legal and individual) that sells consumer goods (services).