Central Bank imposed fines on 11 banks

The Bank Control Committee of the Central Bank considered 47 issues at its meetings in May of this year (7 times) and made appropriate decisions on them.

36 in the direction of registration and authorization, in particular, registration of amendments to the charter of credit organizations (2), inclusion in the register of organizations implementing the activities of microfinance organizations (2), re-registration of licenses issued to microfinance organizations (13), payment organizations issues related to license revocation (2), registration of microfinance organizations (2) and consideration of candidates for supervisory board and board members of commercial banks, as well as important employees (13) were considered.

3 banks were warned about the application of measures and sanctions due to the violations identified as a result of the studies conducted in commercial banks and microfinance organizations, that is, they did not ensure the complete submission of information about bank guarantees to the State Register of Credit Information and did not follow the established limits on the open currency position.

Fine sanctions were applied to 11 banks for non-compliance with the requirements of the current legislation and the economic norms established by the Central Bank and for the identified violations.

As a result of the inspection carried out in 1 microfinance organization, the activities of the company’s lending operations were limited for a period of three months.