Recognition has become one of the main areas of state policy aimed at solving long-standing problems of citizens related to land and cadastre, as well as ensuring the legal ownership of housing and land by the population.
All sources
Similar stories
New Deputy Head of Khorezm Region Appointed
Muzaffar Iskandarovich Qalandarov has been appointed as the deputy head of the Khorezm region. His responsibilities will cover issues related to construction, creating an accessible environment, communications, communal services, ecology, and landscaping.
Cotton growers in Surkhandarya region achieved high yield and fulfilled contractual plan for this year
Cotton growers in the Surkhandarya region successfully fulfilled the contractual plan regarding high yield collection and raw material delivery for this year.
Banks offering misleading loans may face operational restrictions
According to the new decision, banks in Uzbekistan that offer credit products deemed misleading may face limitations or bans on certain financial operations for up to six months.
The Ministry of Justice officially registered the Central Bank Administration's decision to amend some regulatory legal acts. This occurred on September 30th.
The document establishes a requirement for the mandatory placement of warnings about financial risks in advertising materials and contracts related to loans. Banks are obliged to inform consumers that failure to meet loan obligations may lead to financial losses.
These warnings must occupy at least 10 percent of the area in print and electronic advertising, as well as a specified portion of time in audio and video advertising. Furthermore, on the first page of the loan agreement, before the main text, a warning must be placed occupying no less than 30 percent of the main surface area.
If a consumer is offered a credit product recognized as misleading, the Central Bank has the right to restrict or prohibit the bank from conducting certain financial operations or expanding its infrastructure for a period of six months. This decision will come into force one month after official publication.