Tashkent, Uzbekistan (UzDaily.com) – In June, the Central Bank of Uzbekistan imposed penalty sanctions on 11 commercial banks, as reported by the regulator’s press service.

The regulator noted that the Banking Supervision Committee held seven meetings in June and considered 42 issues.

Among them, 28 issues pertained to regulatory procedures, including issuance and re-issuance of licenses (9 issues), registration of changes in charters (5), and approval of candidates for managerial positions (10).

One issue concerned the submission of a qualification certificate for an auditor’s right to conduct audits in banks. The Committee also reviewed 10 issues related to candidates for members of the supervisory board and management of commercial banks, as well as personnel in key positions.

Another 14 issues were related to compliance with prudential norms and directives of the Central Bank by credit institutions.

Penalties were applied to 11 banks, one microfinance organization, and one pawnshop for non-compliance with norms, failure to provide information, and violations identified during the inspections.

The Banking Supervision Committee instructed the heads of banks and microfinance organizations to take measures to rectify identified deficiencies and comply with prudential norms aimed at improving their financial positions.