Tashkent, Uzbekistan (UzDaily.com) — During the latest session of the Legislative Chamber of the Oliy Majlis, the bill aimed at further improving the regulation of lending practices was reviewed and adopted in its second reading.

The bill introduces amendments to the "Credit Information Exchange Law," including new provisions regulating the rights of individuals to establish and remove restrictions on entering into credit agreements. It outlines the process and conditions for including citizens in the Register of Individuals Prohibited from Entering into Credit Contracts, and stipulates the liability of credit information users for violating this restriction.

The meeting highlighted significant work conducted by the responsible committee in preparing the bill for its second reading. In particular, measures and sanctions to be applied by the Central Bank to credit bureaus were clarified, along with editorial and clarifying amendments to the regulations governing their activities.

According to members of the legislature, the adoption of the bill will prevent cases of credit issuance without citizen consent, and the associated theft of funds. Additionally, the document will strengthen the legal framework and increase the transparency of credit bureau operations.

The bill was supported by the deputies and adopted in its third reading.