Uzbekistan Launches Digital System for Debt and Loan Recovery

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan is implementing a new digital approach to collecting tax arrears and problematic loans under a presidential decree on digitalization and improving the efficiency of judicial and other official enforcement procedures.

Under the new system, the sale of debtors’ assets will be conducted through electronic online auctions based on procedural documents prepared by the creditor and state enforcement officers.

Procedural actions related to the seizure and inspection of corporate assets will be carried out by tax authorities for tax debt enforcement documents and by authorized commercial bank representatives on behalf of state executors for secured assets.

All documentation, including seizure acts and collateral paperwork, will be transmitted via electronic platforms, with the responsible authorities accountable for proper recording of seized assets.

The initiative aims to increase transparency, expedite enforcement procedures, and reduce risks associated with the recovery of debt from debtors’ assets.