Regulatory Alerts2006-02-15 | 4/4Added · Updated
Amendments to the Regulation on the Procedure for Imposing Fine Sanctions on Commercial Banks for Violating Established Procedures for Opening Accounts for Customers, Crediting and Debiting Funds, and Providing Cash for Salaries and Other Needs
The Board of the Central Bank of the Republic of Uzbekistan amended the Regulation on imposing fine sanctions on commercial banks for violating procedures regarding customer accounts and cash provision. The amendments revise Clause 1 to align with the Law on Electronic Payments and specific Cabinet of Ministers resolutions, and update Clause 6 to specify that fines for violating fund crediting/debiting procedures are set at 0.1 percent of the bank's minimum statutory capital, excluding violations of electronic payment deadlines. For delayed electronic payments, banks must pay a penalty of 0.1 percent of the delayed sum per day, capped at 10 percent of that sum, and must immediately correct erroneous transfers or face similar penalty demands from customers. This resolution entered into force ten days after its state registration on February 21, 2006.
More like this from CBU
We email you every new CBU publication the day it's published.