The Banking Supervision Committee of the Central Bank held six meetings in January, during which 27 issues were considered, according to the regulator's press service.

The majority of decisions – 17 – concerned registration and licensing procedures. Specifically, the committee reviewed four amendments to the charters of credit institutions, two requests for approval of share acquisitions in banks' charter funds, three applications for licenses by payment organizations, and five candidates for managerial and other key positions in financial institutions.

Additionally, based on the companies' own applications, the license of the payment service IT Unisoft Group was revoked, while Baraka Biznes Hamkor and Effective Money were removed from the register of microfinance organizations.

The remaining ten issues related to credit institutions' compliance with established requirements. The committee assessed their financial condition, implementation of previously issued directives and prudential norms, measures to combat money laundering, and the level of cybersecurity.

As a result of the meetings, penalty sanctions were imposed on seven banks and one microfinance organization for violations of requirements in providing banking card services and other identified shortcomings. Four more payment services received warnings.

Source: kun.uz