The activity of "AVO bank" was banned

According to the Law "On Banks and Banking Activities", the minimum amount of authorized capital of a bank should be 200 billion soums from September 1, 2023. As of today, the authorized capital of JSC "AVO bank" (former Uzagroexportbank) is 105 billion soums, and the amount of authorized capital of the bank is not in accordance with the legal requirements. In accordance with the legislation on banks and banking activities, based on the decision of the Banking Supervision Committee, lending and financing of other expenses, as well as deposit operations, were prohibited to the bank.

Source: Khabar.uz