Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank of Uzbekistan limited the activities of AVO Bank JSC.

According to the Law “On Banks and Banking Activities”, the minimum authorized capital of banks from 1 September  2023 must be at least 200 billion soums.

As of today, the authorized capital of AVO Bank JSC is 105 billion soums, which does not meet the requirements established by law, the press service of the Central Bank said.

Based on the legislation on banks and banking activities, the Banking Supervision Committee decided to impose a ban on the bank from lending and financing other expenses, as well as conducting deposit operations.