In January, the Central Bank of Uzbekistan imposed penalties on one bank and a payment organization

    Finance 14 February 2024 1591

    In January of this year, the Central Bank of Uzbekistan imposed penalties on one bank and a payment organization for non-compliance with the requirements of current legislation and regulatory legal acts. Such data is provided by the press service of the financial regulator.

    It is clarified that last month the Central Bank's committee on banking Supervision held nine meetings, at which 30 issues were considered and decided. In particular, the financial condition of banks and payment organizations and their compliance with the requirements of prudential standards of the Central Bank were discussed.

    "For non-compliance with the requirements of current legislation and regulatory legal documents, the Central Bank applied penalties against one bank and one payment organization. In addition, warnings have been issued to three banks and two pawnshops," the regulator said in a statement. The Central Bank did not specify which organizations it was talking about.

    In addition, the committee, based on the principle of maintaining the stability of its system, protecting the rights of depositors and investors, gave appropriate instructions to the management of commercial banks and microfinance organizations to correct identified deficiencies, comply with established prudential standards, eliminate existing vulnerabilities in banking and comply with requirements aimed at improving their financial situation.