Central Bank Penalizes 10 Banks and Issues Warning to Payment System Operator
The Central Bank’s Banking Supervision Committee has been active in January, holding nine meetings to address a total of 44 key issues. These discussions covered a wide range of topics, including fines for 10 banks for regulatory violations and a warning to a payment system operator for non-compliance.
Of the 44 issues discussed, eight were related to regulatory functions and the financial health of credit institutions. This included ensuring that banks were following Central Bank directives, adhering to prudential standards, and complying with regulations concerning appeals from individuals and legal entities.
During these meetings, fines were imposed on 10 banks for various violations that were uncovered during inspections. Additionally, a payment system operator received a warning for failing to comply with directives and legal requirements.
The remaining 36 issues were focused on licensing and registration procedures. The committee registered 11 new microfinance organizations, approved seven amendments to the charters of credit institutions, and sanctioned two transactions involving their shares.
In addition, the committee reviewed 14 candidates for managerial and other key positions in banks. It was also noted that the credit union Start Kapital Invest was removed from the registry following the completion of its liquidation process.
Overall, the Central Bank’s Banking Supervision Committee has been thorough in its oversight of the banking sector, taking decisive action to ensure compliance with regulations and maintain the stability of the financial system.
