In Uzbekistan, 11 banks were found to have violated the law in February

In Uzbekistan, 11 banks were found to have violated the law in February

The press service of the Central Bank reported that 11 banks in Uzbekistan were fined for not organizing their activities in accordance with legislative requirements and for shortcomings identified during inspections and studies. It is noted that at meetings held in February of this year, issues of compliance with the requirements of the Central Bank's instructions and prudential standards, the results of inspections conducted in commercial banks, the protection of the rights of consumers of banking services, compliance with cybersecurity requirements in banks and payment organizations, and testing of financial services of organizations within the framework of the "regulatory sandbox" were discussed. In addition, 14 banks and 4 payment organizations were warned about the application of measures and sanctions. Deficiencies in the legislative documents of these banks and organizations and non-compliance with Prudential regulatory requirements were identified.