Tashkent, Uzbekistan (UzDaily.com) -- At a regular meeting of the Board of the Central Bank, the activities of the Banking Supervision Committee of the Central Bank for 2022 were analyzed.

It was noted that this year the committee held 88 meetings, at which 218 issues related to the licensing procedure and 82 issues related to the financial condition of credit institutions were considered.

During the discussion of the licensing procedure, issues related to the registration of documents submitted for approval by banks were considered, including amendments to the charters of credit institutions, licensing of credit institutions, exclusion from the state register and issuance of preliminary permits, as well as the inclusion of payment organizations in the register, as well as accreditation of representative offices and permission of the repo operation.

At the meetings to review the financial condition, the results of remote and field studies on compliance with the requirements of prudential standards in credit institutions were discussed, in particular, the results of case studies on existing risks in the activities of banks.

In addition, due to non-compliance with prudential standards, lack of sufficient reserves in case of financial losses, financial insolvency, provision of false information to the Central Bank by distorting reporting data, the banking licenses of Turkistonbank and Hi-Tech Bank were revoked.

Also, licenses were revoked from three payment organizations (International Eco Pay, Panda internet technology, Ugnis) for failing to start their activities within the time limits established by law.

The Committee will continue to pay attention to the issues of maintaining the stability of the banking system, ensuring the protection of the interests of depositors and creditors, as well as further improving the legal framework for regulating and controlling the banking system in accordance with international standards.

The Banking Supervision Committee of the Central Bank is a permanent collegial body established in accordance with the requirements of the Law of the Republic of Uzbekistan “On the Central Bank of the Republic of Uzbekistan”.