Decision of the Management of the Central Bank of the Republic of Uzbekistan on Amendments and Additions to the Regulation on Requirements for Internal Normative Documents of Commercial Banks

Decision of the Management of the Central Bank of the Republic of Uzbekistan, registered on 10.06.2020, registration number 916-1

Effective date: 10.06.2020

All

Appearance

Rus | Ўзб | O’zb | Ўзб|Рус
--- | --- | --- | ---
| |

OCOZ:

1.07.00.00.00 Finance and credit legislation. Bank activity / 07.19.00.00 Banking system / 07.19.02.00 Commercial banks. Private banks. Foreign banks;
2.07.00.00.00 Finance and credit legislation. Bank activity / 07.21.00.00 Banking activity / 07.21.01.00 General issues

TSZ:

1. Finance / Banks and other credit institutions. Credits

Decision of the Management of the Central Bank of the Republic of Uzbekistan

On Amendments and Additions to the Regulation on Requirements for Internal Normative Documents of Commercial Banks

Registered by the Ministry of Justice of the Republic of Uzbekistan on 10 June 2020, registration number 916-1

In accordance with the laws of the Republic of Uzbekistan “On the Central Bank of the Republic of Uzbekistan” and “On Banks and Banking Activities”, the Management of the Central Bank of the Republic of Uzbekistan decides:

1. The Regulation on Requirements for Internal Normative Documents of Commercial Banks approved by the Central Bank of the Republic of Uzbekistan on 22 February 2000 by order No. 466 (the Regulation, registration number 916, 5 April 2000) (Information Bulletin of normative documents of ministries, state committees and bodies of the Republic of Uzbekistan, 2000, No. 7) shall be amended and supplemented in accordance with the annex.
2. This decision shall enter into force as of the day it is officially announced.

Chairman of the Central Bank M. NURMURATOV

Tashkent, 25 May 2020, No. 12/14

---

Appendix to the Decision of the Management of the Central Bank of the Republic of Uzbekistan dated 25 May 2020 No. 12/14

Amendments and additions to the Regulation on Requirements for Internal Normative Documents of Commercial Banks introduced by the Central Bank

1. In paragraph 1.2, the words “laws of the Republic of Uzbekistan, legislative documents and the relevant normative documents of the Central Bank” shall be replaced with the words “legislative documents.”

2. In paragraph 1.3, the words “laws of the Republic of Uzbekistan and other legislative documents,” shall be replaced with the words “legislative documents and.”

3. In paragraph 1.8, the words “legislation of the Republic of Uzbekistan and the Central Bank’s normative documents” shall be replaced with the words “legislative documents.”

4. Paragraph 2.1, first subparagraph, shall be stated as follows:

   2.1. The normative documents developed by commercial banks must be in accordance with legislative documents and must meet the requirements of the Central Bank’s normative documents.

5. Paragraph 2.2 shall be stated as follows:

   2.2. The internal normative document must indicate under which legislative act (its articles or clauses) the document is being adopted.

6. In the first subparagraph of paragraph 2.5, the words “in the current legislation” shall be replaced with the words “in legislative documents.”

7. In the first subparagraph of paragraph 2.6, the words “in the current legislation and Central Bank normative documents” shall be replaced with the words “in legislative documents.”

8. In paragraph 3.1:

   • First subparagraph: the words “current legislation and the Central Bank’s normative documents” shall be replaced with “legislative documents.”
   • Second subparagraph: the words “current legislation and the Central Bank’s normative documents” shall be replaced with “legislative documents.”

9. In paragraph 3.4, the words “laws of the Republic of Uzbekistan, its legislation and the Central Bank’s normative documents” shall be replaced with the words “legislative documents.”

10. In paragraph 3.5:

    • First subparagraph: the words “legislation of the Republic of Uzbekistan, the Central Bank’s normative documents” shall be replaced with “legislative documents.”

    • Second subparagraph shall be stated as follows:

      If during the review it is found that the internal normative documents of commercial banks contradict legislative documents or do not fully comply with their requirements, the Central Bank shall issue a mandatory instruction to the boards or management of commercial banks to introduce appropriate amendments to these internal normative documents or to cancel them.

    • Third subparagraph shall be removed.

11. Add a paragraph 3.7 with the following content:

    3.7. Commercial banks must maintain a register of internal normative documents adopted by them, as well as the amendments and additions made to them. The internal normative documents, as well as any amendments and additions, must be submitted to the Central Bank within 15 days after approval by the commercial banks.

12. Paragraph 4.1 shall be stated as follows:

    4.1. The internal normative documents regulating the credit operations of commercial banks must be in accordance with the Regulation on Requirements for Credit Operations of Commercial Banks and the Regulation on the Procedure for Conducting Credit Documents in Banks of the Republic of Uzbekistan (registration numbers 905 and 906, dated 2 March 2000) as well as other normative documents.

13. In paragraph 5.2:

    • The first subparagraph shall be removed.
    • The second subparagraph shall be considered the first subparagraph.

(Legal Documents National Database, 10.06.2020, No. 10/20/916-1/0734)