Central Bank issues warnings to 9 banks
Local
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12 January
10755In December 2024, the Central Bank's Banking Supervision Committee reviewed 37 cases during its meetings and issued warnings to several financial institutions. This was confirmed by the Central Bank’s press service.
The committee addressed 27 cases related to registration and licensing matters, including:
- Amendments to the charters of credit institutions (7 cases),
- Registration of new microfinance institutions (4 cases),
- Granting permissions to hold shares in the authorized capital of credit institutions (7 cases),
- Reviewing candidates for supervisory and management board positions in commercial banks (7 cases).
Additionally, the committee discussed 10 issues concerning the financial condition of credit institutions. These included compliance with Central Bank regulations, adherence to prudential standards, and results from inspections of commercial banks, microfinance organizations, and payment service providers.
As a result of these reviews, the Central Bank issued warnings to:
- 9 banks,
- 2 pawnshops,
- 1 microfinance organization.
The warnings were based on identified shortcomings such as:
- Non-compliance with Central Bank instructions and prudential standards,
- Violations of currency and foreign trade operation regulations.
Fines were also imposed on:
- 1 bank,
- 1 pawnshop,
- 1 microfinance organization for breaches of current legislation and findings from Central Bank inspections.
The Central Bank emphasized the importance of maintaining compliance with financial regulations and prudential standards to ensure the stability and integrity of Uzbekistan’s financial sector.
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