10 banks penalized by Central Bank following inspections

The Central Bank of Uzbekistan has imposed financial sanctions on ten banks for violations identified during its latest inspections and reviews. The decision was announced by the Central Bank’s press service.

In January 2025, the Banking Supervision Committee of the Central Bank held nine meetings, during which it reviewed forty-four cases and made corresponding rulings.

During the meetings, several regulatory and licensing matters were addressed. The committee examined amendments in the charters of credit institutions, reviewed the registration of newly established microfinance institutions, and granted permission for ownership of shares in credit organizations. Additionally, an auditor qualification certificate was issued for conducting bank audits, while candidates for supervisory and management boards of commercial banks were assessed for compliance with regulations.

As part of the financial oversight measures, the "Start Kapital Invest" credit union was officially removed from the State Register of Credit Unions following the completion of its liquidation process.

The committee also evaluated the financial condition of credit institutions, ensuring their compliance with the Central Bank’s instructions and prudential standards. Reviews were conducted on commercial banks, microfinance institutions, and payment service providers to determine whether they adhered to the requirements of the Law on Appeals of Individuals and Legal Entities.

Following these evaluations, one payment system operator received a formal warning regarding regulatory non-compliance. In addition, ten banks were fined for violations identified during Central Bank inspections. While specific details of the violations were not disclosed, the fines were issued for failure to comply with legislative and regulatory requirements.

The Central Bank continues to take strict measures to maintain financial stability and ensure that financial institutions adhere to established regulations, reinforcing its commitment to strengthening Uzbekistan’s banking system.