CB fined nine commercial banks in April

16 banks and two microfinance organizations were warned of fines.

In April, the Central Bank fined nine commercial banks for failure to comply with the requirements of the law, the regulator’s press service reports.

Last month, the CB Banking Supervision Committee held seven meetings at which it considered 49 issues. Most of them (34 questions) related to registration and issuance of permits, and the rest (15 questions) related to the implementation of prudential standards.

The regulator issued warnings to 16 banks and two microfinance organizations about the application of penalties for violations identified as part of the inspections.

In addition, four banks were limited in carrying out credit (active and passive) operations due to their failure to comply with the requirements for the minimum authorized capital, which increased to 350 billion soums from April 1.

In March, the Committee on Banking Supervision warned one commercial bank and one microcredit organization, and also limited the license of one payment organization for six months due to inaction.