Tashkent, Uzbekistan (UzDaily.com) – In July 2024, the Central Bank of Uzbekistan issued warnings to 20 commercial banks for failing to comply with regulations in their dealings with consumers, according to a statement from the regulator’s press service.

In July, the Banking Supervision Committee held eight meetings, during which it reviewed 59 issues. Of these, 51 were related to licensing procedures, such as issuing and renewing licenses, registering changes to charters, opening foreign branches, and approving candidates for executive positions.

Additionally, the regulator revoked the licenses of one entity operating as a payment system operator and three legal entities engaged in payment activities.

The discussions also covered the financial condition of credit organizations, compliance with Central Bank instructions and prudential standards, as well as the results of inspections of a microfinance organization.

Thirteen payment system operators and payment organizations were warned about the application of measures and sanctions for failing to meet capital requirements and organizational legal forms.

The Banking Supervision Committee instructed the management of banks and microfinance organizations to take corrective measures to address the identified shortcomings and adhere to prudential standards to improve their financial situation.