of March 23, 2018 No. PP-3620
About additional measures for increase in availability of banking services
As a result of the undertaken reforms in bank system market mechanisms of rendering services take root, their types extend, financial availability to entrepreneurs and the population increases.
The new banking services facilitating carrying out currency exchange transactions for the population are implemented, conditions on acquisition of foreign currency by individual entrepreneurs are created.
At the same time number of problems and shortcomings of part of observance of the rights and legitimate interests of consumers of banking services and expansion of financial availability, especially in regions, and also further increase in culture of servicing and trust to bank system is observed. In particular:
the first, excessive centralization of powers in decision making on issuance of credits interferes with accurate differentiation of responsibility between head banks and their branches;
the second, the complicated mechanisms of consideration of credit requests limit possibility of operational receipt of the credits;
third, lack of possibility of issue of microloans by commercial banks does not provide increase in level of availability of microloans, and high interest rates on services of microcredit institutions and pawnshops often lead to deterioration in financial condition of consumers;
the fourth, the low level of development of the market of retail banking services and lack of modern approaches of forming of partnership with clients create the soil for manifestation of excessive bureaucracy and red tape;
the fifth, absence of the state processing organization for implementation of clearing settlements on the basis of bank cards influences the level of safety, uninterruptedness and reliability of functioning of retail payment systems and interferes with promotion of modern technology solutions in case of implementation of the innovative projects available to general population;
the sixth, collection of the commission for consideration and issuance of credits (microloans), and also other payments leads to increase in actual cost of borrowing;
the seventh, inclusion in agreements of the conditions providing the unilateral right to change rates for services, percent on the issued credits and the attracted deposits, and also provision of one service with imposing of acquisition of additional violate the rights of consumers of banking services;
the eighth, availability of restrictions on removal of foreign currency from bank payment cards and the insufficient number of ATMs do not provide the due service level in case of currency exchange transactions.
For the purpose of elimination of the specified problems, further enhancement of mechanisms of ensuring consumer protection of banking services and increase in level of financial availability taking into account current trends of innovative development, and also realization of the tasks determined in the Strategy of actions by five priority directions of development of the Republic of Uzbekistan in 2017 - 2021:
2. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 09.06.2022 No. UP-152
3. Establish requirements according to which commercial banks create conditions for since July 1, 2018:
easy access in zone of direct customer service, without preliminary permissions and the production of documents confirming the personality;
receipts of preliminary consultation about the rendered banking services from administrators of primary acceptance of clients;
transparent registration and consideration of credit requests with indication of the step-by-step procedure of decision making and procedure for the notification about issue or motivated refusal in issuance of credit (microloan).
4. Prohibit to credit institutions:
charge percent, charge the fees and penalty (penalty, penalty fee), to apply other measures of the agreement responsibility of microloan, and also to the credit agreements signed by pawnshops in the amount more than a half of the amount of borrowing in year;
enforce payments for consideration of credit requests, servicing of loan accounts, issuance of credits, and also penalties for early repayment of the credits (microloans) by physical persons and small business entities.
5. Recommend to commercial banks:
study the best international practices of banking activity and implement new types of banking services and products;
increase branch network of banks and mini-banks taking into account their payback and the needs for banking services;
expand the rights of branches on independent decision making about issuance of credit without additional coordination with head bank.
6. To Central Bank of the Republic of Uzbekistan in time:
a) till April 1, 2018 to implement the removal mechanism in the territory of the Republic of Uzbekistan of the cash foreign currency secured by physical persons on the international payment cards within the limits set by commercial banks;
b) till April 1, 2018 together with commercial banks to implement the system of remote control of accounts of physical persons providing carrying out transactions by them on purchase and sale of foreign currency and money transfer from the international payment cards on term deposits in foreign or national currency;
c) till May 1, 2018:
develop and approve Regulations on the minimum requirements to activities of commercial banks when implementing relations with consumers of banking services;
make in the Cabinet of Ministers offers on the changes and amendments in the legislation providing the right to commercial banks to issue microloans;
make additions to regulatory legal acts concerning application by the Central bank of sanctions against credit institutions for violation of the rights of consumers of banking services by them;
develop and approve the Provision providing establishment of the requirement about availability of scoring model in credit bureau with possibility of creation by commercial banks of own scoring model allowing to estimate creditworthness of the potential borrower and reduce terms of issuance of credits (microloans) to physical persons and small business entities;
d) till July 1, 2018 together with the National agency of project management in case of the President of the Republic of Uzbekistan to develop the Concept of creation of the National banking processing center providing information and technological interaction between participating banks of calculations for local and international bank cards, having determined it the main objectives:
creation and development of the national retail payment system ensuring safety and uninterruptedness of carrying out transactions;
creation and development of available payment services;
development and promotion of innovative products, including contactless and mobile technologies, when implementing cashless payments;
implementation of technologies of contactless and mobile payments, first of all in the sphere of social servicing, transport, trade, public catering, especially in regions;
ensuring interaction with international payment systems;
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