Regulatory Alerts2025-04-25 | 9/1Added · Updated
On Amendments and Additions to the Regulation on the Procedure and Conditions for Granting Permission for Banking Activities
The Central Bank of Uzbekistan amends the Regulation on the Procedure and Conditions for Granting Permission for Banking Activities to extend its rules to microfinance banks and update submission requirements for applications and documents. The amendments introduce electronic submission via information-communication systems, clarify procedures for bank establishment by single or multiple founders, and mandate name changes within six months if shareholder composition changes violate requirements. Additionally, the regulation prohibits microfinance banks from opening branches, representative offices, or participating in foreign bank capital, while allowing other banks to do so with Central Bank permission. A state duty of 0.1% of the minimum authorized capital is levied for license issuance, and the definition of a bank service office is clarified.