The Central Bank of Uzbekistan fined 11 banks in May

    Finance 14 June 2024 1399

    The Banking Supervision Committee of the Central Bank of Uzbekistan held a number of meetings in May and made decisions on 47 issues. This was reported by the press service of the regulator.

    The Committee considered 36 issues related to registration and permits. Among them: amendments to the charters of credit institutions (2), issuance of permits to own shares in the authorized capital (2), entry into the register of microfinance organizations (2), re-registration of licenses of microfinance organizations (13), revocation of licenses issued to payment organizations (2), registration of microfinance organizations (2) and appointment of key employees in commercial banks (13).

    The financial condition of credit institutions, compliance with the requirements and prudential norms of the Central Bank in banks and payment organizations, and the results of inspections in banks and microfinance organizations were also discussed.

    Three banks received warnings about the imposition of measures and sanctions for violations detected during inspections conducted at commercial banks and microfinance organizations. The violations relate to incomplete provision of information on bank guarantees to the state register of loans and exceeding limits on an open currency position.

    In addition, the founders of the limited liability companies "Payment Aggregation Systems" and Yurt pay decided to temporarily suspend the activities of their organizations, and 11 banks were penalized for non-compliance with the requirements of current legislation and economic norms established by the Central Bank.

    One of the microfinance organizations was temporarily restricted from performing credit operations for three months due to violations identified during the audit.