In line with the decision No. 111 of the Central Bank of Uzbekistan from 13 March 2010, Alp Jamol Bank is liquidated. The Central Bank withdrew the license due to violation of the banking laws.

The commission said the depositors and creditors can apply with applications to request the bank to implement its obligations within two months.

It added that deposits of population in national and hard currency will be transferred from branches of Alp Jamol Bank to corresponding branches of Khalq Banki (People’s Bank) in line with the agreement from 11 March 2010. Khalq Banki assumes all obligations on signed agreements with depositors, the commission added.

Private open joint-stock commercial bank Alp Jamol Bank was founded on 16 March 1998 by businesses of Uzbekistan. Charter capital of the bank was 10 billion soums as of 1 January 2010. The assets comprised 118.6 billion soums and own capital – 15.9 billion soums as of 1 January 2010.