Central Bank of Uzbekistan Allows “Credit Holidays” Without Downgrading Loan Status

Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of Uzbekistan has approved a new approach to loan classification aimed at supporting citizens who temporarily face difficulties in servicing their loans.

The relevant decision was registered with the Ministry of Justice on 23 December 2025, under No. 2696-5.

Under the new rules, if a borrower is temporarily unable to meet loan obligations—for example, due to maternity leave, financial hardship, or other difficult life circumstances—and applies to a bank for a one-time payment deferral or loan extension, such changes will not be considered a revision of the loan terms.

In other words, granting a so-called “credit holiday” will not worsen the quality or status of the loan.

The duration of the deferral depends on the specific circumstances. For borrowers on maternity leave, it may be granted for up to 10 months, while in other difficult life situations the deferral period may be up to 6 months.

Delays in payments during the specified period will not affect the loan’s classification, provided that the relevant circumstances occurred within the four months preceding the borrower’s application to the bank.

According to the regulator, the new measure allows banks to avoid creating additional loan loss provisions due to clients’ temporary financial difficulties and enables them to offer borrowers more flexible and convenient lending terms within the framework of current legislation and their internal policies.