Central Bank decides not to fine for deferred loans
Tashkent, Uzbekistan (UzDaily.com) - In order to mitigate the risks associated with payments on loans of borrowers due to the spread of coronavirus infection, the Central Bank recommended to all credit organizations:
- on the basis of requests from borrowers - individuals and individual entrepreneurs whose activities were negatively impacted by the introduced quarantine regime, provide a grace period and accordingly extend the deadlines for final payments on their loans until 1 October 2020;
- do not charge penalties for deferred credit debt and do not direct collection on collateral for loans.
At the same time, credit organizations have the right not to change the classification of the quality of loans, the terms of which were revised on the basis of the above recommendations.
In turn, based on the situation connected with the introduction of quarantine, in order to ensure distance, it is recommended that credit organizations take measures to create a system for remote consideration of applications for deferred payments on loans.
At the same time, in order to make good use of the benefits provided, it is advisable for clients to contact credit organizations if their financial condition is actually worsening.