As reported earlier, Credit Standard Bank suspended its banking activities based on the protocol of the decision of the Board of the Central Bank of Uzbekistan No. 23/1 from 25 November 2013.

Central Bank of Uzbekistan withdrew license of Credit Standard Bank in connection with the violation of banking legislation.

The bank said that all sums at accounts of individuals as of 27 November, including deposits, transit accounts for banking cards, including salary projects, interest rates on deposits, were transferred from Credit Standard Bank to Central Operational Department of Khalq Bank.

From 2 December 2013, the clients of the Credit Standard Bank will receive new accounts at branches of Khalq Bank in Tashkent, Samarkand and Ferghana.

In line with the decision of liquidation committee, from 2 December 2013 legal entities can close their accounts at Credit Standard Bank and transfer them to other banks if they have no debt on loan or leasing.

The bank said that the clients should pay all interest rates on loans and leasing, as well as other commission fees in full volume.

The statement of the bank said that the accounts will be transferred to accounts of the clients at any other bank in set terms.

The clients, who has credit or leasing agreement with Credit Standard Bank should repay debt or organize purchase of the debt by other commercial banks.

Credit Standard Bank stated that it has necessary financial capabilities to repay resources of the clients and called the clients to be calm in this situation.