CBU revokes licenses on foreign currency operations from two banks

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Finance 19/08/2009 CBU revokes licenses on foreign currency operations from two banks

Central Bank of Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- Central Bank of Uzbekistan revoked general license for carrying out foreign currency operations of two small commercial banks.

The bank said on 18 August that the licenses were withdrawn due to violation of banking legislation of Uktam Bank open joint-stock commercial banks and Turkiston Bank open joint-stock investment commercial bank.

The banking sector regulator said that the licenses were revoked in line with the articles No. 40 and No. 53 of the Law of Uzbekistan “On Central Bank of the Republic of Uzbekistan”. The Central Bank did not elaborate.

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