Central Bank Punishes Banks for Oversight Violations
The Banking Supervision Committee of the Central Bank has been busy in February, holding eight meetings to address a total of 43 important issues. According to the regulator’s press service, a variety of topics were discussed during these meetings.
One of the key areas of focus was on regulatory functions and the financial health of credit institutions. This involved ensuring that banks were in compliance with Central Bank directives, following prudential standards, and addressing any issues identified during inspections conducted at commercial banks. In fact, three banks were issued warnings for various shortcomings and non-compliance with legislation, while fines were imposed on five other banks for violations that were detected.
Additionally, the committee reviewed tasks related to registration and licensing procedures. This included the registration of three microfinance organizations and the removal of Ishonch Plyus Hamkor from the microfinance registry following its liquidation. The evaluation of candidates for senior and key positions in banking institutions was also a key focus, along with reviewing applications for the acquisition of stakes in credit organizations, amendments to charters, and the opening of a representative office.
Overall, the Central Bank’s Banking Supervision Committee has been actively monitoring and addressing a wide range of issues to ensure the stability and compliance within the banking sector.
