Tashkent, Uzbekistan (UzDaily.com) -- In May 2024, the Banking Supervision Committee of the Central Bank of Uzbekistan held seven meetings and considered 47 issues. This was reported by the regulator’s press service.

In February, the Committee considered 36 issues related to registration and permitting processes. In particular, two issues were considered regarding the registration of changes in the charters of credit organizations, two issues regarding the issuance of permits to own shares in the authorized capital of credit organizations, and two issues regarding inclusion in the register of microfinance organizations.

The Committee also considered 13 questions on the re-registration of licenses issued to microfinance organizations, two questions on the revocation of licenses from payment organizations and two questions on the registration of new microfinance organizations.

Candidates for positions on supervisory boards and management of commercial banks, as well as for key positions in financial institutions, were also considered.

In addition, 11 issues related to the financial condition of credit institutions, compliance with the instructions of the Central Bank and prudential standards, as well as the results of inspections carried out in banks and microfinance organizations were discussed.

Three banks received warnings about possible measures and sanctions for violations identified during inspections. These violations include failure to comply with requirements for submitting bank guarantee information to the credit information registry and failure to comply with limits on open currency positions.

The founders of the limited liability companies Payment Aggregation Systems and YURT PAY decided to terminate the activities of these organizations, and therefore it was decided to revoke their licenses.

In addition, 11 banks were fined for non-compliance with laws and regulations. The license of one microfinance organization was suspended for three months due to identified violations.

As a result of inspections carried out in one microfinance organization, it was decided to limit its activities in credit operations for three months.

The Committee also sent instructions to the management of banks to eliminate the identified deficiencies, comply with prudential standards established by the Central Bank, and fulfill requirements aimed at improving their financial condition.