The Banking Supervision Committee of the Central Bank of Uzbekistan has announced enforcement actions against eight commercial banks following regulatory reviews in September. According to the official report, the financial institutions were penalized for failing to comply with prudential standards and legislative requirements, as well as for various infractions uncovered during recent inspections.

During the reporting month, the committee held a total of eight meetings, reviewing 37 key agenda items and adopting relevant resolutions. The majority of these matters—specifically 21 items—pertained to registration and licensing procedures. These discussions included registering amendments to credit institution charters, registering microfinance organizations, and issuing accreditations and licenses to payment providers.

The sessions also addressed applications for acquiring stakes in the charter capital of credit institutions. Furthermore, the committee evaluated candidates nominated for executive and supervisory board positions, as well as other key personnel roles within the banking sector.

An additional 16 agenda items focused on the financial standing of credit and payment institutions. These reviews encompassed adherence to Central Bank directives, compliance with prudential norms, and the findings of on-site inspection audits conducted across banking and non-banking credit entities. * Additionally, the committee touched upon testing innovative financial services within the framework of the regulatory sandbox regime. Notably, the names of the fined banks and the exact penalty amounts were not disclosed in the public announcement.

Source: kun.uz