Uzbekistan to introduce regulation of the instalment market

The Central Bank of Uzbekistan plans to introduce regulation of the installment payment market, including the increasingly popular Buy Now, Pay Later (BNPL) services. The announcement was made on May 2 during a conference hosted by the International Monetary Fund, Kursiv Uzbekistan reports.

The regulator is currently working with international financial institutions to conduct regular stress testing aimed at identifying potential risks in unregulated segments of the financial market. Particular focus is being placed on systems that are gaining popularity and may significantly affect household debt levels.

The BNPL sector was highlighted as a key area of concern. In response to its rapid growth in Uzbekistan, the Central Bank is planning to implement monitoring and control mechanisms. These measures aim to ensure that citizens’ debt obligations are properly recorded in the banking system and to protect consumer rights.

Kursiv Uzbekistan also reports that the International Monetary Fund (IMF) has raised its forecast for Uzbekistan’s GDP growth in 2025 to 5.9%