Bitcoin · BTC$82,350▼ 1.4%
Ethereum · ETH$2,461▼ 3.0%
USD / RUBRUB 83.9▼ 1.2%
EUR / RUBRUB 94.0▼ 1.0%
USD / UZSUZS 11,899.09▲ 0.0%
EUR / UZSUZS 13,298.42▼ 0.3%
Gold · PAXG$4,156▼ 1.1%
BTC dominance59.4%
All rates →
Finance · Regulation

Risk Warnings in Loan Ads: What Uzbekistan's Central Bank Will Require

On 30 September 2026 the Ministry of Justice registered (No. 3948) Resolution No. 24/18 of the Board of the Central Bank of Uzbekistan: banks will have to devote at least 10% of the space or duration of a loan advertisement and at least 30% of the main area of the first page of a loan agreement to a risk warning. The resolution will take effect one month after its official publication; as of 3 October 2026 it could not be found by title in a lex.uz search.

· 7 min read · Sogdium Editorial
A small blank poster on a tabletop easel with a turquoise stripe along the bottom, next to a blank sheet of paper whose top third is shaded turquoise

In brief: A risk warning in loan advertising in Uzbekistan will become mandatory for banks once Resolution No. 24/18 of the Board of the Central Bank of 15 September 2026 takes effect; the Ministry of Justice registered it on 30 September 2026 under No. 3948 (CBU on Telegram, 2 October 2026). Under the text of the resolution (PDF on cbu.uz, Uzbek only), the warning will take up at least 10% of the space in print and electronic visual loan advertising or 10% of the duration of audio and video advertising, and at least 30% of the main area of the first page of a loan agreement. The resolution will take effect one month after its official publication (para. 2); as of 3 October 2026 a lex.uz search by its title returned no document with reg. No. 3948.

The CBU titled the English version of its announcement "Banks Now Required to Warn Customers About Credit Risks" (post 13614, 2 October 2026). The resolution was signed by CBU Chairman Timur Ishmetov on 15 September 2026; its preamble cites, among other grounds, Presidential Resolution PQ-265 of 15 July 2026 (also reported by UzDaily, 2 October 2026).

What Resolution No. 24/18 (reg. No. 3948) will require: the rules in figures

Our summary; the act is in Uzbek only, and numbering follows the Annex to Resolution No. 24/18.

What changes (once in force)RuleWhere in the act
Loan advertisingThe bank will be required to include a warning that failure to meet loan obligations may lead to financial risks for the consumerNew para. 20¹ of Regulation No. 3030 — subpara. 1 of para. 1 of the Annex (Uzbek only)
Size in advertisingAt least 10% of the space in print and electronic visual advertising; at least 10% of the duration in audio and video advertisingSame, second indent of para. 20¹ (Uzbek only)
Loan agreementThe bank will be required to place on the first page, before the start of the text, a warning following standard form 1b of the annex, taking up at least 30% of the page's main areaNew second indent of para. 36⁶ of Regulation No. 3030 — subparas. 2 and 3 of para. 1 of the Annex (Uzbek only)
SanctionsA new ground for CBU measures: a bank's loan product is found to mislead the consumerNew sixteenth indent of para. 33 of Regulation No. 3492 — para. 2 of the Annex (Uzbek only)
Entry into forceOne month after official publication; not found in a lex.uz search as of 3 October 2026Para. 2 of Resolution No. 24/18 (Uzbek only)

The advertising rule in the original (para. 20¹, subpara. 1 of para. 1 of the Annex, Uzbek only): "Bank o‘z kredit reklamasida kredit bo‘yicha majburiyatlarni bajarmaslik iste’molchi uchun moliyaviy xatarlarga olib kelishi mumkinligi haqidagi ogohlantirishni joylashtirishi shart" (in English: "In its loan advertising, the bank must place a warning that failure to meet loan obligations may lead to financial risks for the consumer"; translated from Uzbek).

Acts being amended (texts on lex.uz are in Uzbek):

  • Regulation No. 3030 on minimum requirements for commercial banks in their relations with consumers — approved by CBU Board Resolution No. 16/18 of 28 April 2018, published on 3 July 2018, took effect three months after publication; the current version on lex.uz includes amendments No. 3030-12 (published on 3 August 2026, in force since 4 September 2026) and, as of 3 October 2026, does not yet include the No. 3948 amendments.
  • Regulation No. 3492 on the procedure for applying measures and sanctions to banks, non-bank credit institutions and credit bureaus — approved by Resolution No. 36/9 of 22 November 2023, published on 25 January 2024, took effect three months after publication; the current version on lex.uz includes amendments No. 3492-1 (published on 2 May 2026, in force since 6 August 2026).

What the warning in a loan agreement will say

Standard form 1b is headed "OGOHLANTIRISH!" ("WARNING!"). Our translation, full list (translated from Uzbek): failure to meet loan obligations on time may lead to:

  1. an increase in the total amount owed;
  2. enforcement measures to collect the debt;
  3. recovery being levied against the borrower's property; if the proceeds from its sale are not enough, the remaining debt stays with the borrower;
  4. recovery being levied against property pledged by a third party, or the obligation to repay the debt being placed on the guarantor;
  5. the amount repaid by the guarantor or pledgor being subsequently recovered from the borrower;
  6. funds in the borrower's accounts being frozen;
  7. a temporary restriction of the right to leave Uzbekistan by decision of a court or a state enforcement officer;
  8. a negative impact on the credit history and limited access to credit in the future.

Under the note to the form, the text may also be presented in graphic, infographic or other visual form, provided its full content is preserved. The same para. 36⁶ already requires the full cost of the loan to be shown in a frame in the top right corner of the first sheet of an agreement with an individual (fourth indent, fifth after the amendments; lex.uz version as of 3 October 2026).

Sanctions for a misleading loan

Under para. 33 of Regulation No. 3492 (lex.uz version as of 3 October 2026, Uzbek only), the CBU may decide to restrict and/or prohibit a bank's specific financial operations or the expansion of its infrastructure for up to six months in the listed cases, which include violation of the rights of financial services consumers. Resolution No. 24/18 will add a sixteenth indent — "bank tomonidan taklif etilayotgan kredit mahsuloti iste’molchini chalg‘ituvchi deb topilganda" (our translation: where a loan product offered by the bank is found to mislead the consumer; translated from Uzbek). The CBU may take such a decision but is not obliged to. Of the Spot.uz, UzDaily, Daryo and Gazeta.uz publications of 2–3 October 2026, only Gazeta.uz (in Uzbek), 3 October 2026 mentions the period of up to six months.

The text of Resolution No. 24/18 (cbu.uz, retrieved 3 October 2026) contains no criteria for finding a product misleading; a general ban on misleading consumers through advertising information is already in para. 20 of Regulation No. 3030 (lex.uz version as of 3 October 2026).

When the loan advertising requirements will take effect

One month after official publication (para. 2 of Resolution No. 24/18). As of 3 October 2026 the publication date has not been confirmed by the primary source: a lex.uz search by the resolution's title returns no document with reg. No. 3948, and the lex.uz version of Regulation No. 3030 contains no amendments. Spot.uz on 2 October 2026 gives the date as 1 November 2026; the outlet does not say from which publication date it is counting.

Where the requirement comes from: the PQ-265 plan

PQ-265 of 15 July 2026 was published and took effect on 15 July 2026 (Russian text on lex.uz); the lex.uz version as of 3 October 2026 shows no amendments, and the annexes are given in Uzbek only. Para. 15 of Annex 2 (lex.uz) instructs the CBU and the Ministry of Justice to prepare a departmental act in September 2026. Our translation (translated from Uzbek): to make it mandatory to place a text warning taking up at least 30% of the main area of the agreement in the opening part of microloan agreements, and a warning about negative consequences in advertising materials; to introduce the practice of temporarily or permanently banning loan products found to mislead the consumer.

Resolution No. 24/18 amends only Regulations No. 3030 and No. 3492, and the new indents are addressed to banks (per the text on cbu.uz, retrieved 3 October 2026); it contains no separate rules for non-bank credit institutions. Para. 12 of PQ-265 separately instructed the Committee for the Development of Competition and Protection of Consumer Rights, together with the CBU, to submit to the Cabinet of Ministers by 1 September 2026 a draft act providing, among other things, that any advertising of loans, installment plans and "nasiya savdo" (buy-now-pay-later sales) for individuals must state the amount of overpayment and the final cost. The text of Resolution No. 24/18 (cbu.uz, retrieved 3 October 2026) contains no overpayment requirement: para. 12 of PQ-265 provides for a separate draft act for that, to be submitted to the Cabinet of Ministers.

The Law 'On Advertising': what applies now

Article 43 of the Law "On Advertising" (Law No. ZRU-776 of 7 June 2022, published on 8 June 2022, took effect three months after publication; the latest amendment in the lex.uz version was published on 12 March 2025) requires advertising of financial services not to abuse the trust of the advertising user and/or not to be designed to exploit the user's lack of experience and knowledge, not to contain information not directly related to the advertised services, and to disclose the material terms of the contracts (lex.uz). As of 3 October 2026 it contains no risk-warning requirement. According to Daryo on 3 October 2026, on 17 March 2026 the Legislative Chamber passed a law providing for a mandatory warning about the consequences of borrowing in advertising of loan products. Separately, Daryo reports that in August the Senate approved a law providing for warnings in advertising of credit services; Daryo does not say which law is being amended. The lex.uz version of ZRU-776 as of 3 October 2026 shows no amendments after 12 March 2025.

The CBU's goals, according to its announcement, include ensuring that consumers receive clear information about the risks and the consequences of late repayment before taking out a loan; according to the CBU, this will help, among other things, reduce excessive debt burdens and overdue debt (CBU on Telegram, 2 October 2026). The CBU's draft anti-fraud requirements for banks (open for discussion until 9 October 2026) are covered in our piece on the Central Bank of Uzbekistan's anti-fraud requirements.

FAQ

When will the loan advertising warning requirements take effect? One month after the official publication of CBU Board Resolution No. 24/18 (reg. No. 3948 of 30 September 2026), para. 2; as of 3 October 2026 the resolution could not be found in a lex.uz search. Spot.uz on 2 October 2026 gives 1 November 2026 without stating the basis for the calculation.

How much space will the warning take up in a loan advertisement? At least 10% of the space in print and electronic visual advertising and at least 10% of the duration of audio and video advertising — under the new para. 20¹ of Regulation No. 3030, which will take effect together with Resolution No. 24/18 (text in Uzbek only).

What will the warning in a loan agreement say? A list of eight possible consequences of late payment, to be placed using standard form 1b: from a growing debt and frozen account funds to a temporary restriction of the right to leave Uzbekistan by decision of a court or a state enforcement officer and damage to the credit history. The warning will take up at least 30% of the main area of the first page, before the start of the agreement text.

Do the new requirements apply to microloans from non-bank institutions? No: under the text of Resolution No. 24/18 on cbu.uz (retrieved 3 October 2026), the amendments, which will take effect one month after publication, are made only to Regulation No. 3030 for commercial banks and to para. 33 of Regulation No. 3492 on measures against banks. The PQ-265 plan (para. 15 of Annex 2, Uzbek only) mentions microloan agreements, but Resolution No. 24/18 (cbu.uz, 3 October 2026) contains no separate rules for non-bank credit institutions.

What does a bank face for a misleading loan product? A restriction and/or prohibition of specific financial operations or of infrastructure expansion for up to six months — the CBU will be able to take such a decision under para. 33 of Regulation No. 3492 once the amendments take effect. Resolution No. 24/18 (cbu.uz, retrieved 3 October 2026) sets no criteria for such a product.

Has the Law 'On Advertising' changed for financial services? No: in the lex.uz version of ZRU-776 as of 3 October 2026 (latest amendment published on 12 March 2025), Article 43 contains no risk-warning requirement. According to Daryo on 3 October 2026, in August the Senate approved a law providing for warnings in advertising of credit services; Daryo does not say which law is being amended.

Sources

Read also