Tashkent, Uzbekistan (UzDaily.com) -- In April 2024, the Central Bank of Uzbekistan imposed fines on nine commercial banks for violating legal requirements. This was reported by the regulator’s press service.

During April, the Banking Supervision Committee of the Central Bank held seven meetings at which it considered 49 issues.

According to the regulator, most of them (34 questions) related to registration and issuance of permits, while the remaining 15 related to compliance with prudential standards.

The regulator issued warnings to 16 banks and two microfinance organizations about the possible imposition of penalties for violations identified during inspections.

In addition, the committee decided to limit 4 banks in carrying out credit operations (active and passive) due to failure to meet the requirements for the minimum authorized capital, which was increased to 350 billion soums from 1 April.

Due to non-compliance with the requirements of current legislation and economic standards established by the Central Bank, as well as for identified violations, fines were imposed on 9 banks.

In addition, to ensure the stability of the banking system and protect the rights of depositors and investors, the Committee gave appropriate instructions to financial institutions to comply with established requirements, eliminate violations and improve financial performance.