Why is this important
The regulator is tightening oversight of the financial sector, concentrating on problematic loans, capitalisation, and money laundering. This sends a message to the market about heightened transparency and sustainability standards.
What happened
- 9 meetings of the Banking Supervision Committee were held, 51 issues were considered.
- 32 issues related to the registration and issuance of permits for banks and microfinance organizations;
- 19 questions — on the financial condition of organizations and the fulfillment of standards;
- fines were introduced for violations of the requirements of the Central Bank, AML/CFT rules, and identified shortcomings;
- The Eurasian Bank’s license was revoked for non-compliance with minimum capital requirements.
Context:
The banking services market in Uzbekistan is actively clearing up: since the beginning of the year, the Central Bank has repeatedly strengthened control over capitalization and NPL reduction. In 2024, the regulator tightened requirements for banks regarding reserves and risk management. Against the backdrop of reforms, the financial sector is experiencing consolidation: weak players are leaving, large banks are raising capital.
