Central Bank of Uzbekistan fines eight banks in September

The Central Bank of Uzbekistan's Banking Supervision Committee imposed fines on eight commercial banks in September for non-compliance with prudential norms and legislative requirements, as well as for violations detected during inspections. The regulator did not disclose the names of the fined credit institutions or the amount of the fines. Over the month, the committee held eight meetings and considered 37 issues, 21 of which concerned registration and licensing procedures, including the registration and accreditation of microfinance organizations, the issuance of licenses to payment organizations, amendments to the charters of credit institutions, approvals for shares in the capital, and the approval of nine candidates for leadership and key positions in banks. The remaining 16 issues concerned the financial condition of credit and payment organizations, the execution of Central Bank prescriptions, prudential norms, inspection results, and testing of financial services in the 'regulatory sandbox'.