Central Bank of Uzbekistan imposes fines on 11 banks

In June, the Central Bank imposed fines on 11 banks, one microfinance organization, and one pawnshop.

Photo: Kun.uz

"The financial condition of credit organizations was reviewed on 14 issues, including compliance with Central Bank requirements and prudential norms, as well as the results of inspections conducted in banks and microfinance organizations," noted the Central Bank.

Instructions were also issued to bank management and microfinance organization leadership to rectify identified deficiencies.

Earlier in May this year, the regulator fined 11 commercial banks for non-compliance with legislation and norms.