Central Bank of Uzbekistan revokes licenses from two commercial banks
The Central Bank of Uzbekistan has revoked licenses from two private banks: Turkiston and HI-TECH BANK.
The Central Bank of Uzbekistan has revoked licenses from two private banks: Turkiston and HI-TECH BANK.
In this regard, all funds of depositors will be returned as a matter of priority in full after 2 months. Violations committed by banks:
▪️lack of sufficient reserves against possible losses on the bank's assets;
▪️the bank incurs losses in excess of 50% of its regulatory capital;
▪️violation of the legal rights and interests of consumers of banking services;
▪️accounting with violations that do not reflect the real financial position of the bank and lead to a violation of reporting information;
▪️failure to comply with the Central Bank's instructions on the elimination of gross violations in the activities of banks in a timely manner;
▪️repeated gross violations after the Central Bank imposed a fine for such violations.
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