Uzbekistan Central Bank revokes licenses of several payment system operators and warns 20 banks

The names of the companies were not disclosed, but two weeks earlier, the Central Bank announced the revocation of the license of Qulay Pul operator. The press service of the regulator informed Kun.uz that the license revocations did not affect Humo or Uzcard. Currently, only these two operators are listed in the registry of payment system operators.

Additionally, 20 commercial banks were warned for non-compliance with current legislation when interacting with consumers.

"Eight issues were discussed, relating to the financial condition of credit organizations, compliance with the Central Bank's requirements and prudential norms, as well as the results of inspections of microfinance organizations," the report stated.

Due to non-compliance with the requirements for authorized capital and organizational-legal form, 13 payment operators were issued warnings about the application of measures and sanctions.