Uzbekistan approves new installment purchase rules from Jan. 1, 2027
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Uzbekistan has approved new installment purchase rules that take effect Jan. 1, 2027. President Shavkat Mirziyoyev signed the resolution on Aug. 14, requiring operators to enter a Central Bank register and introducing caps on installment costs and charges. Banks and microfinance organisations will join the register by notification, while other legal entities must pass registration.
Key Facts
- From Jan. 1, 2027, installment operators must be included in a Central Bank register; banks and microfinance organisations join by notification, while other legal entities must pass registration.
- The value of an installment purchase cannot exceed 250 base calculation units, equal to 110 million soums from Sept. 1.
- Real estate and property withdrawn or restricted from circulation cannot be sold by installment.
- Installment operators are prohibited from issuing consumer loans and attracting funds from individuals; claims may be assigned only to other installment operators, microfinance organisations, or banks.
- Installment contracts are limited to 12 months, allow early repayment without penalties, and cap total extra payments at 50% per year.
Operator Registry and Admission
From 1 January 2027, only legal entities included in a special register formed by the Central Bank may provide installment services. Installment operators are defined as legal entities offering installment services, except banks and microfinance organisations. Banks and microfinance organisations are included in the register by notifying the Central Bank. Other legal entities must complete registration with the regulator before they can operate.
Product and Activity Restrictions
The rules introduce restrictions on loan purposes, amounts, and maximum payments. The cost of an installment purchase cannot exceed 250 base calculation units, which equals 110 million soums from 1 September. Real estate and property withdrawn from circulation or restricted by law cannot be the object of an installment service. Installment operators are prohibited from issuing financial consumer loans or attracting funds from individuals. Rights under installment contracts may be transferred only to other installment operators, microfinance organisations, or banks.
Contract Terms and Early Repayment
Installment contracts must separately state the operator's commission or markup and other payments included in the final cost of the good, work, or service. Total payments above the principal, including intermediary fees, fines, penalties, and other liability measures, cannot exceed 50% of the installment amount per year. Consumers have the right to repay the installment early, in full or in part, at any time without additional fines, penalties, or commissions. The maximum term of a consumer's obligations under an installment contract is 12 months from the date it is concluded. From 1 January 2027, organisations providing commodity consumer loans will not be required to send credit bureau data for contracts worth up to 3 base calculation units (1.32 million soums) and their performance.
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Uzbekistan approves new installment purchase rules from Jan. 1, 2027
