Six Banks and Two Microfinance Firms Fined After Uzbekistan Central Bank October Reviews

Uzbekistan’s Central Bank has imposed financial penalties on six commercial banks and two microfinance organisations following inspections and supervisory hearings conducted throughout October 2026, the regulator’s press service announced.

The Banking Supervision Committee held six sessions during the month, working through a total of 43 agenda items before issuing its decisions. The fines were applied for failures to observe prudential norms, breaches of legislative requirements, and violations uncovered during on-site inspection checks. A further bank and one additional microfinance organisation escaped sanctions this time but were formally warned that enforcement measures could follow if shortcomings persist.

What the Committee Examined

Twenty-three of the 43 items before the committee concerned registration and licensing matters. These included amendments to the charters of credit organisations, the submission of auditor qualification certificates authorising bank audits, the deregistration and accreditation of microfinance organisations, and the licensing of payment organisations. The committee also reviewed applications for permission to hold stakes in the authorised capital of credit organisations, and assessed candidates proposed for supervisory board and management board positions at commercial banks, as well as candidates for other roles designated as significant.

The remaining 20 items addressed the financial condition of credit and payment organisations. Discussions covered compliance with Central Bank directives and prudential standards, the results of inspection visits to both banking and non-banking credit institutions, and the testing of financial services within the regulator’s sandbox framework.

Significance of the Action

The simultaneous sanctioning of eight institutions in a single month’s cycle is a notable show of supervisory activity. By publishing the aggregate results — naming the categories of violation without identifying individual institutions — the Central Bank signals active enforcement while leaving the named firms to manage their own disclosure obligations. The parallel warnings issued to one bank and one microfinance firm indicate the committee is tracking additional institutions whose compliance record it considers at risk.