Uzbekistan Central Bank Fines Four Lenders in May Review

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan's Banking Supervisor Fined Four Financial Institutions in May, Suspended One Payment Firm's License

Uzbekistan's Central Bank Banking Supervision Committee resolved 36 regulatory matters across eight sittings in May 2026, imposing sanctions on four financial institutions and temporarily suspending the license of one payment organization — a month of routine but substantive supervisory activity that offers a window into the regulator's enforcement posture.

Licensing and registration — the bulk of the agenda:

Twenty-six of the 36 items addressed registration and permitting matters. These covered amendments to credit institution charters, issuance of qualification certificates to auditors, registration of microfinance and factoring organizations, and the vetting of candidates for management boards and key executive roles at commercial banks — standard gatekeeping functions that form the backbone of prudential oversight.

The committee also reviewed and acted on the temporary suspension of a license held by one payment organization, though the institution was not named and no reason for the suspension was publicly disclosed.

Financial condition assessments:

The remaining 10 agenda items focused on evaluating the financial health of credit and payment organizations. Discussions covered compliance with Central Bank prudential norms, findings from on-site inspection visits, decisions on retained earnings distribution, and the testing of financial services within the regulatory sandbox framework — the controlled environment Uzbekistan uses to pilot fintech innovations before full regulatory integration.

Enforcement actions:

Inspections resulted in fines against two commercial banks and two microfinance organizations for violations of legislative requirements. As is standard practice, the Central Bank did not publicly identify the penalized institutions or specify the nature of the breaches.

The May activity reflects the supervisory rhythm of a regulator managing a financial sector in active expansion — balancing new entrant registration, ongoing compliance monitoring, and enforcement against a backdrop of broader financial market development that includes the recently launched mortgage bond market and growing payment sector activity.