The Central Bank of Uzbekistan has imposed fines on 13 commercial banks in May for violations uncovered during inspections and compliance checks, according to a press release from the Bank’s press service.

The fines were the result of findings by the Banking Supervision Committee, which convened eight times during the month and reviewed 37 issues related to the financial sector.

Among the decisions made, 18 were in the area of registration and licensing. These included:

• Registration of amendments to the charters of credit institutions (3 cases),
• Registration and deregistration of microfinance organizations (4),
• Approvals related to shareholding in the authorized capital of credit institutions (4),
• Consideration of candidates for senior management and supervisory board positions in commercial banks (7).

In addition, 19 issues were linked to the financial standing of credit institutions, including their adherence to the Central Bank’s prudential requirements. The Committee reviewed the results of inspections conducted at commercial banks and microfinance organizations.

17 banks were formally warned that sanctions would be applied if they failed to meet legislative requirements, particularly regarding minimum authorized capital and the effective implementation of plans to recover non-performing loans at the regional level.

The latest fines mark an increase in enforcement activity by the Central Bank. For comparison, six banks were fined in April 2025, 10 in January, and five in February.