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Uzbek citizens now able to get consumer loans to buy goods abroad

Business Materials 14 August 2018 14:34 (UTC +04:00)

Baku, Azerbaijan, Aug. 14

By Fikret Dolukhanov – Trend:

Citizens of Uzbekistan will be able to use financial consumer loans provided by banks and credit organizations to purchase goods produced both in the republic and abroad, the Central Bank of Uzbekistan announced.

Corresponding changes are provided by the draft "Law on Amendments and Additions to the Law of the Republic of Uzbekistan on Consumer Lending”.

The draft law, within the framework of measures taken to liberalize foreign trade, repeals the current restrictions on provision of financial consumer loans only for goods and services produced in Uzbekistan.

It is reported that the draft law is aimed at improving the mechanisms of consumer lending, including expanding access of citizens and business entities to the market and a wide range of goods and services, as well as improving the business climate and business environment.

Also, according to the draft law, individual entrepreneurs, along with legal entities, are granted the right to sell goods and services of their own production on consumer credits.

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Follow the author on Twitter: @FDolukhanov

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