The central bank can recall the license of 8 commercial banks

As of September 1, 2023, the minimum amount of authorized capital of the bank should be 200 crore. The central bank issued a warning to commercial banks, informing them that the license of banks that did not fulfill this requirement could be recalled.
In April, in order to increase the level of capitalization of banks and increase the resource base, an amendment was introduced to the law “on banks and banking activities”.

According to him, the minimum amount of authorized capital of the bank:

100 billion by 1 September 2023;
200 billion from 1 September 2023;
350 billion from 1 April 2024;
500 billion from 1 January 2025.
Economist Otabek Bakirov drew attention to the fact that a number of banks currently do not meet these requirements.

“As of may 1, at least 8 banks do not meet the requirements that will come into force after another three months. Among these are the Old banks, which are not the capital, prosperous bank, Madad invest bank and Uzagroeksportbank yesterday organized,” he wrote.

The situation was reacted by the central bank. It is noted that the license of banks whose authorized capital does not meet the specified minimum requirements will be recalled.

"At the time of the draft law, the central bank issued relevant instructions to commercial banks to establish specific measures to bring the authorized capital to the specified amount and ensure its implementation.

In relation to banks for which the amount of authorized capital does not meet the established minimum requirements, it is recommended to join other banks based on the legislation, otherwise a license granting the right to carry out banking activities will be withdrawn from them,” the MB information says.