The central bank has restricted operations of two banks due to non-compliance with capital requirements.

The Central Bank of Uzbekistan has imposed restrictions on the active operations of two banks that failed to meet the required minimum charter capital. This information was reported by Spot, citing Nusratulla Fazilov, the director of the Banking Prudential Supervision Department at the Central Bank.

https://uzdaily.uz/ru/tsentralnyi-bank-ogranichil-operatsii-dvukh-bankov-iz-za-nevypolneniia-trebovanii-po-ustavnomu-kapitalu/2025-01-23 08:48:00

Saderatbank (Iran) has not met the minimum charter capital requirement due to currency exchange rate volatility.

Poytakht Bank, which was recently privatized, has been granted an extension until 2028 to fulfill the requirements.

The other two banks—Yangi Bank and the Kazakh Eurasian Bank, which received a license in Uzbekistan in 2024—have agreed upon an action plan to increase their charter capital.

The funds from Eurasian Bank are placed in Tenge Bank, and they must be allocated to replenish the charter fund by March 2025.

Steps have also been developed for Yangi Bank to increase its capital.

During the period of meeting these requirements, the central bank has restricted their active operations.

The law for the phased increase of the minimum charter capital for banks was signed in April 2023.

As of September 2023, the minimum threshold was set at 200 billion sums. From 2025, the established minimum will rise to 500 billion sums.