ID :
211654
Fri, 10/07/2011 - 10:48
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http://m.oananews.org//node/211654
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Uzbek president signs law "On exchange of credit information"
2011.10.07 11:13 (UTC +05:00)
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Uzbekistan, Tashkent, Oct. 7 / Trend , D.Azizov /
Uzbek President Islam Karimov signed a law "On exchange of credit information" approved by the Uzbek senate on Aug. 26.
The law will enter into force on Jan.1, 2012. The law was developed to further improving financial-banking infrastructure.
The law is directed at creating effective system of credit information exchange and providing information on state of credit deals, execution of responsibilities on them, and other information, which will contribute to determine solvency, financial state, paying capacity, payment discipline and other qualities of credit information subjects.
The law includes basis concepts related to credit information exchange, order of the state registration and issue of licenses, determine rights and liabilities of credit bureaus, suppliers, users and subjects of credit information, authorities of the Central Bank of Uzbekistan on regulation and supervision of the activities of the credit bureaus.
Based on the law, the credit information exchange is interaction of a credit bureau, subject, provider and user of credit information on collection, processing, analysis, storage, delivery, use and protection of credit information with a view to build a credit history and credit report.
Credit information must contain information about the state of credit transaction, performance of obligations issued by security (collateral, guarantees, risk insurance to repay the loan and others), as well as other information to facilitate determination of the creditworthiness, financial condition, solvency, payment behavior and other qualities of the subject credit information.
Other credit organizations, pawnshops and micro credit organizations, leasing companies and insurers should be attracted to process of credit information exchange along with commercial banks.
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© Trend News Agency
________________________________________
Uzbekistan, Tashkent, Oct. 7 / Trend , D.Azizov /
Uzbek President Islam Karimov signed a law "On exchange of credit information" approved by the Uzbek senate on Aug. 26.
The law will enter into force on Jan.1, 2012. The law was developed to further improving financial-banking infrastructure.
The law is directed at creating effective system of credit information exchange and providing information on state of credit deals, execution of responsibilities on them, and other information, which will contribute to determine solvency, financial state, paying capacity, payment discipline and other qualities of credit information subjects.
The law includes basis concepts related to credit information exchange, order of the state registration and issue of licenses, determine rights and liabilities of credit bureaus, suppliers, users and subjects of credit information, authorities of the Central Bank of Uzbekistan on regulation and supervision of the activities of the credit bureaus.
Based on the law, the credit information exchange is interaction of a credit bureau, subject, provider and user of credit information on collection, processing, analysis, storage, delivery, use and protection of credit information with a view to build a credit history and credit report.
Credit information must contain information about the state of credit transaction, performance of obligations issued by security (collateral, guarantees, risk insurance to repay the loan and others), as well as other information to facilitate determination of the creditworthiness, financial condition, solvency, payment behavior and other qualities of the subject credit information.
Other credit organizations, pawnshops and micro credit organizations, leasing companies and insurers should be attracted to process of credit information exchange along with commercial banks.
________________________________________
© Trend News Agency
