Central Bank orders compulsory liquidation of Eurasian Bank in Uzbekistan

By a resolution of the Central Bank’s Board on August 27, the license granting Eurasian Bank JSC the right to conduct banking activities in Uzbekistan was revoked.

According to the regulator, the bank’s charter capital did not meet the minimum requirements set by law. In addition, other provisions of the legislation on banks and banking activities were not fulfilled.

The Central Bank also decided on the compulsory liquidation of Eurasian Bank and the appointment of a liquidation commission.

For reference, from January 1, 2025, the charter capital of commercial banks must not be less than UZS 500 billion. As of August 1, 2025, Eurasian Bank’s capital stood at UZS 104 billion.

Eurasian Bank is a subsidiary of the Kazakhstan-based bank of the same name, which received its license in Uzbekistan in January 2024. As of August 1, 2025, the bank’s deposit and loan portfolios were at zero. The credit institution ended the first half of 2025 with a loss of UZS 51.6 billion.

Eurasian Bank in Kazakhstan was founded in 1994 and is headquartered in Almaty. According to Forbes, its ultimate beneficiaries are the loop family, the heirs of Alexander Mashkevich, and Fattokh Shodiev.