The press service of the Central Bank said that the license was revoked in line with the articles 40 and 53 of the law of Uzbekistan “On Central Bank of Uzbekistan” in connection with violations of the banking legislation on hard currency regulation.

Universalbank private open joint stock commercial bank was founded on 25 May 2002 with charter capital of 0.05 billion soums on the base of Qoqand private open joint stock commercial bank.

The headquarters of the bank is located in Qoqand city, Ferghana region of Uzbekistan. The main clients of the bank are small and private businesses, as well as retail clients.