Uzbekistan Regulates Installment Service Operators From 2027

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan will introduce regulated activity for installment service operators starting 1 January 2027 under a decree signed by President Shavkat Mirziyoyev, UzDaily.uz reported, citing the Ministry of Justice.

Under the decree, titled "On measures to improve the provision of installment services to the population," legal entities other than banks and microfinance organizations may operate as installment service providers once registered in a special registry maintained by the Central Bank. Banks and microfinance organizations will be added to the registry upon notifying the regulator, while other corporate entities must complete formal accounting registration with the Central Bank.

The decree imposes a cap on the value of goods, works, or services purchased through installment plans, restricting transactions to a maximum of 250 base calculating quantities (BCQ). This limit currently equals 103 million soums and will rise to 110 million soums starting 1 September. Real estate, as well as property removed from or restricted in circulation under law, cannot be financed through installment services.

Installment operators are prohibited from providing financial consumer loans or attracting funds from individuals. Additionally, assignment of claims under installment contracts is restricted exclusively to other registered installment operators, microfinance organizations, and banks. Contracts must explicitly detail the operator's commission, markup, and any other fees included in the final price, with total payments exceeding the principal debt capped at 50 percent of the installment amount per year.

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Consumers will have the right to fully or partially prepay their debt at any time without additional penalties, fines, or fees. The maximum duration of obligations under an installment contract is capped at 12 months from the date of conclusion.

Beginning in 2027, organizations providing commodity consumer loans will no longer be required to submit contract details or repayment records to credit bureaus for agreements valued up to three BCQ (up to 1.32 million soums).

Installment service operators must comply with prudential standards and regulatory requirements set by the Central Bank. They will be required to perform digital customer identification and verification using information technology, exchange credit data with credit bureaus for all contracts, and adhere to Central Bank debt-load limits when making financing decisions.