Don't take out a loan in your name: it's up to you now

Now You Can Ban Loans on Your Own Name: A New Era in Financial Security
A major innovation has been introduced in Uzbekistan to strengthen financial security. Starting from June 6, 2024, individuals can voluntarily prohibit credit issuance in their own name. This initiative is aimed at protecting citizens' property from fraud and preventing unauthorized involvement in credit agreements.

Rejecting Credit: A Conscious Choice and Financial Protection
According to the new system, a person can now preemptively prohibit the issuance of credit in their name. This means that no bank, microfinance organization, or financial agent can issue a loan agreement in the person's name without their consent.

This service is offered by the “Credit Information Analytical Center” and is provided completely free of charge via the credit bureau's official website. Both imposing and removing the restriction are free of charge.

The Problem: You didn’t know, but a loan exists…
In recent years, social media has seen many complaints like “I never took a loan, but I’m in debt.” In many cases, someone else used a copy of the victim's passport or trusted phone numbers to obtain a loan without their knowledge.

This new feature is specifically designed to prevent such fraud. Now, if a person activates the restriction, not even the most advanced technology can override it — the system simply won’t allow it.

How is it implemented?
To use the service, one must visit the official website of the Credit Information Analytical Center (CIAC), register, and log in using electronic identification. Within minutes, a user can prohibit or lift a ban on credit issuance in their name.

Unfortunately, this feature is not yet available on the Unified Interactive Public Services Portal (UIPSP), though it is expected soon. Citizens may also apply through state service centers using a written or electronic application.

Legal Foundation — Law Means Protection
The law regarding this option was signed in March 2024. It guarantees citizens full control over credit issuance in their name and the right to prohibit such agreements at any time.

Additionally, it enhances control over access to one’s credit history without consent. Since June 20, 2024, citizens have also been able to restrict access to their credit reports.

Why Is This Important?
Many financial frauds, especially in rural areas, happen when someone's documents or trust are misused to secure large loans in their name. Some people, trusting relatives, have handed over their documents — only to be stuck with the debt themselves.

The new system especially protects people with low financial literacy. It also promotes a culture of “refusing unnecessary credit.” No one can now impose harmful financial obligations on you without your knowledge.

Conclusion: You Control Your Own Finances
This new system introduced in Uzbekistan not only enhances financial safety but also gives citizens complete authority over their credit policy. Instead of complaining “a loan was taken in my name without me knowing,” people can now take precautionary measures and maintain financial independence. Read 'Zamin' on Telegram!