Uzbekistan is introducing new restrictions on online loans: from April 22, citizens will be able to receive only one loan or microloan per day and only in one financial organization. The decision was made by the Central Bank and is aimed at reducing the risks of fraud and overloading borrowers with debts.
Now, when applying, lenders are required to first check the client against a special register of persons with a ban on credit transactions. If a person simultaneously submits applications to several banks or MFIs, the credit bureau will consider only the first of them, and the rest will be temporarily ignored until a decision is made.
If the first application is rejected, the system switches to the next one. But in the event of approval and issuance of a loan, all other applications are automatically canceled. Moreover, after receiving a loan, new applications for the same PINFL are not accepted within 24 hours, which should limit attempts to massively apply for loans in a short time.