This was announced by the Chairman of the Regulator Timur Ishmetov during the Senate plenary session on June 26, where the report on the Central Bank's activities for the year 2024 was heard.
As he mentioned, last year’s monitoring activities included a risk profile assessment of 14 banks based on a trial of four bank samples. As a result, appropriate measures were taken for the banks, and instructions were given to address the weaknesses. For banks and microfinance organizations that did not comply with legislation, measures such as halting certain operations and imposing fines were taken.
In particular, 28 banks and 24 microfinance organizations were fined a total of 16.6 billion UZS (equivalent to $1.31 million as per the Central Bank rate) for violations such as money laundering from currency and criminal activities.
The regulator is studying the periodic qualitative changes in mortgage loans, car loans, and microloans and identifying the measures for diversifying banks' credit portfolio structures to assess the risk level of loans allocated to the population and to identify possible problem loans.
In addition, excess resources in banks with a high concentration of microloans are redirected to financing small businesses. The risk levels for mortgages and car loans allocated to the population are determined based on the borrower's debt load indicator and the collateral ratio.
