The Central Bank of Uzbekistan is planning to regulate the increasingly popular BNPL ("Buy Now – Pay Later") system in the country. This was announced at the International Monetary Fund conference on May 2, as reported by Kursiv Uzbekistan.
According to the information, the regulator is currently conducting stress tests in collaboration with international financial institutions to identify potential risks in unregulated markets. Special attention is being paid to systems that could negatively impact the debt burden of the population.
BNPL has been highlighted as one such system. Therefore, mechanisms will be introduced to account for citizens' credit obligations within the banking system and to protect consumer rights.
