Finance

Uzbekistan Central Bank Tightens Data Rules for Nonbank Lenders

Uzbekistan Central Bank Tightens Data Rules for Nonbank Lenders
Uzbekistan Central Bank Tightens Data Rules for Nonbank Lenders / Photo: UzDaily.

Tashkent, Uzbekistan (UzDaily.uz) — The Central Bank of Uzbekistan has extended information security requirements to guarantee and factoring organizations and introduced a requirement for clients’ biometric personal data to be stored within the country, according to a Central Bank resolution dated 22 July and registered by the Ministry of Justice on 5 August.

The document amended the Regulation on Minimum Information Security Requirements for Microfinance Organizations, Pawnshops and Mortgage Refinancing Organizations. The resolution entered into force on 6 August.

Under the amendments, the Regulation now applies not only to microfinance organizations, pawnshops and mortgage refinancing organizations, but also to guarantee and factoring organizations. All these entities are referred to in the document as “nonbank credit organizations.”

The Regulation was supplemented with Clause 4-1, which establishes requirements for storing biometric personal data of individuals. Such data used by nonbank credit organizations to identify and authenticate clients must be stored within Uzbekistan.

Other client personal data that is not biometric may be stored and processed outside the country provided that the requirements of Part Three of Article 27-1 of the Law on Personal Data are met.

The resolution also brings the terminology used in the Regulation into line with current legislation. In particular, the term “secret” has been replaced throughout the text with “confidential.”

Under the Law on Personal Data, genetic data of individuals and data of individuals who use the services of telecommunications operators operating in Uzbekistan must also be stored within the country.

Askar Yakubov
Askar Yakubov

Askar Yakubov is a professional photojournalist with extensive experience in news and reportage photography. He specializes in fast-paced coverage of social, political, cultural, international, business, and community events, with a sharp eye for capturing expressive shots and conveying the atmosphere of an event under tight time constraints. His skill set spans reportage, portrait, and documentary photography, along with image editing and color correction, and preparing photo materials for media and digital platforms. He is known for his professionalism, adherence to editorial standards, and ability to work both independently and as part of a shooting team.