Central Bank of Uzbekistan extends credit payment terms

Finance Materials 31 March 2020 10:39 (UTC +04:00)
Central Bank of Uzbekistan extends credit payment terms

BAKU, Azerbaijan, Mar. 31

By Ilkin Seyfaddini – Trend:

The Central Bank of Uzbekistan has instructed commercial banks to introduce a simplified procedure for consideration of appeals of the population on the issue of extending the terms of credit payments, Trend reports referring to the bank.

At the same time, justification of the reasons for the extension of payments is required. In this case, the loan agreement will be amended and the obligations of the borrower upon completion of quarantine measures will be included.

To date, the process of granting loans by commercial banks has not been suspended. However, given the quarantine measures, the Central Bank recommends the banks to focus on reducing the credit burden of clients.

During the last week, the banks received and fulfilled about 10,000 applications for extension of credit payment terms.

According to the bank, all ATMs are provided with sufficient cash. The uninterrupted operation of ATMs and payment terminals is monitored by the Central Bank. As of today, 415,000 payment terminals and more than 5,000 ATMs have been installed in the country.


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