Tashkent, Uzbekistan (UzDaily.com) - In order to mitigate the negative consequences of the coronavirus pandemic on the repayment of household loans and business entities, credit institutions are required to introduce a simplified procedure for considering applications for extending loan payment terms.

At the same time, to extend the terms of payments on loans to the population and business entities, it is enough to submit an appeal to credit organizations, which should indicate:

- justification for extending the terms of payments on loans;

- the obligations of the borrower to formalize changes to the loan agreement, within the time period established by the credit institution after completion of the quarantine regime in accordance with applicable law.

In turn, we inform that if the borrower fails to prepare additional documents in accordance with the current legislation, within the time period established by the credit institution after the quarantine regime has been completed, the changes made to the loan agreement will be canceled by the credit institution with the subsequent entry into force of the original contract terms that were in force before these changes were introduced.

To date, commercial banks are working to create a system for remote reception of calls. Information on these remote services will be additionally reported through the websites and official pages of banks in social networks.