The Chairman of the Central Bank, Mamarizo Nurmuratov, has announced stricter regulations for granting auto loans to the public. He made this announcement during a press conference on October 26, Spot.uz reported.
The head of the regulatory body noted that the restrictions on auto loans introduced on September 14 had reduced the average monthly loan volume by about one-third.
According to the new regulations, the share of auto loans in the banks' credit portfolios should not exceed 25%, citing risks associated with loan concentration.
However, after the central bank's tightening measures, some banks began providing a portion of the loan amount for car purchases in the form of microloans.
In response, Nurmuratov announced that the regulator is preparing to strengthen macroprudential requirements for banks regarding auto loans. These new measures aim to limit citizens' credit options for purchasing vehicles through microloans.
"We intend to introduce an indicator and thereby implement specific measures to control this situation," said Nurmatov.
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