Regulations on Requirements for Internal Documents of Commercial Banks by the Central Bank

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Regulation of the Board of the Central Bank of the Republic of Uzbekistan, registered on April 5, 2000, under registration number 916

Date of Entry into Force

April 15, 2000

All

January 17, 2025

August 5, 2022

July 28, 2021

June 10, 2020

April 15, 2000

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[ OKOZ: 1. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.19.00.00 Banking System / 07.19.02.00 Commercial Banks. Private Banks. Foreign Banks; 2. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.01.00 General Issues] [ TSZ: 1. Finance / Banks and other credit institutions. Credits]

"APPROVED"

Board of the Central Bank of the Republic of Uzbekistan

(Resolution No. 3/6 dated February 22, 2000) No. 466 See previous edition.

Regulation on Requirements for Internal Rules of Commercial Banks by the Central Bank

(regulation name in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042)

[Registered by the Ministry of Justice of the Republic of Uzbekistan on April 5, 2000, under No. 916]

I. General Provisions See previous edition.

1.1. This Regulation establishes the requirements imposed by the Central Bank on the internal rules of commercial banks. (Para. 1.1 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

1.2. The internal rules of commercial banks establish a detailed, clear procedure for implementing banking operations within the framework of legislative acts, performing the function of a mandatory guide for the heads and employees of the respective bank. (Para. 1.2 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

1.3. Relations between commercial banks and their clients are carried out on the basis of contracts. (Para. 1.3 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042)

See: Chapter 27 of the Civil Code of the Republic of Uzbekistan, Resolution No. 76 dated August 29, 2005 of the Ministry of Finance of the Republic of Uzbekistan, the State Tax Committee, and the Board of the Central Bank, Resolution No. 2005-47, Resolution No. 267-V approving the "Regulation on the Procedure for Adding and Paying Mandatory Contributions to Citizens' Personal Accumulative Pension Accounts by Employers." See previous edition.

1.4. The internal rules of commercial banks are developed and adopted to create an effective internal control system, manage risks inherent in banking activity (identifying, assessing, monitoring, controlling, reducing, and reporting on risks), ensure safe and sound banking activity, full compliance with banking legislation, and facilitate the management of banking activities and the execution of banking operations. (Para. 1.4 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

1.5. Commercial banks adopt internal rules that have a mandatory character only for the respective bank within their competence in the form of strategy, regulation, procedure, rules, or policy. (Para. 1.5 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

1.6. The internal rules of commercial banks are approved by the bank's supervisory board (hereinafter referred to as the Council) or the bank's management (hereinafter referred to as Management). (Para. 1.6 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition. (Lost force based on Para. 1.7 of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

1.8. Responsibility for the compliance of bank internal rules with legislative acts lies with the Council and Management. (Para. 1.8 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042)

See previous edition.

II. Requirements for the Text of Internal Rules of Commercial Banks (Name of Section 2 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.1. Internal rules developed by commercial banks must comply with legislative acts. It is not permitted to establish norms in the internal rules of commercial banks that contradict the rights, freedoms, and legitimate interests of citizens protected by law. (Para. 2.1 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.2. The internal rule must indicate which legislative act (its articles or paragraphs) it is being adopted to implement. (Para. 2.2 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.3. The structure of the internal rule must ensure the logical development of the subject of legal regulation, as well as uniform understanding and practical application of future documents. (Para. 2.3 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.4. The internal rule must have a short title corresponding to its content, and depending on its content and volume, this document should be divided into separate titled chapters, sections, and paragraphs and numbered. (Para. 2.4 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.5. Internal rules must be expressed clearly and plainly in the official language. To exclude possibilities of different interpretations, concepts and phrases used in the internal rule are applied in the same form as their meanings accepted in legislative acts. (Para. 2.5 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.6. Word-for-word repetition of norms established by legislative acts in the internal rule is not permitted. References to current legislative acts in the text of internal rules are allowed only as exceptions. References to other paragraphs of this internal rule, as well as to normative acts previously adopted by the Central Bank and other ministries and departments, are permitted only to indicate their interdependence or to prevent repetitions. (Para. 2.6 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.7. Each paragraph of the internal rule must consist of one normative rule, and each separate paragraph must contain a complete and finished content. (Para. 2.7 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

2.8. If there is a need to include lists, tables, schedules, diagrams, samples of documents and forms in the internal rule, they are usually placed in appendices. In necessary cases, references to them are made in the relevant paragraphs of the internal rule. (Para. 2.8 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042)

See previous edition.

2.9. The internal rule must have the following requisites: (First bullet of Para. 2.9 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042)

a short name describing the regulatory subject of the document and the type of document;

the number and date of the resolution of the bank's governing body that adopted the document;

the registration number of the document; See previous edition.

confirmation stamped with the seal of the respective bank and signed by members of the Council and/or Management. (Fifth bullet of Para. 2.9 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042)

See previous edition.

III. Development, Approval, Amendment, and Cancellation of Internal Rules of Commercial Banks (Name of Section 3 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

3.1. After internal rules are developed in the appropriate structural subdivision of the bank, they undergo legal expertise by the bank's legal service to ensure compliance with legislative acts, and a legal opinion is prepared and attached to the relevant folders. The legal opinion must reflect the compliance of the internal rule with legislative acts. Adoption of internal rules of commercial banks without the conclusion and consent signature (visa) of the legal service regarding their compliance with legislative acts is not permitted. (Para. 3.1 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

3.2. The internal rule enters into force from the day following the day of its approval by the Council or Management, unless another period is specified therein. (Para. 3.2 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

3.3. Amendments and additions to the internal rules of commercial banks are made on the basis of resolutions of the bank's appropriate governing bodies. These amendments and additions must be formally documented in the manner prescribed for the main internal rule. (Para. 3.3 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

3.4. If changes occur in legislative acts applicable to the internal rule of a commercial bank and no period is specified therein, the bank must introduce relevant amendments to its rule within one week. (Para. 3.4 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

3.5. During the implementation of bank supervision by the Central Bank, if cases are identified where the internal rules of commercial banks contradict legislative acts or do not fully meet their requirements, the Central Bank issues a mandatory instruction to the Council and/or Management to introduce relevant amendments to these internal rules or cancel them. (Para. 3.5 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

3.6. The internal rules of commercial banks are canceled by the appropriate resolution of the governing body of the bank that approved them. (Para. 3.6 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

3.7. Commercial banks must maintain a register of the internal rules adopted by them, as well as amendments and additions made to them. Internal rules whose development is specified in the normative legal acts of the Central Bank, as well as amendments and additions made to them, must be submitted to the Central Bank within 15 days after their approval by commercial banks. (Para. 3.7 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition. (Chapter IV lost force based on Resolution No. 14/7 dated July 8, 2022 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-2, August 5, 2022) — , August 5, 2022, No. 10/22/916-2/0718)

V. Final Provisions See previous edition.

5.1. The rules of commercial banks are not approved, coordinated, or registered by the Central Bank. (Para. 5.1 in the edition of Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042) See previous edition.

5.11. Persons guilty of violating the requirements of this Regulation are liable in accordance with legislative acts. (Para. 5.11 introduced based on Resolution No. 37/16 dated December 10, 2024 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-3, January 15, 2025) — , January 17, 2025, No. 10/25/916-3/0042)

See previous edition. (First bullet of Para. 5.2 lost force based on Resolution No. 12/14 dated May 25, 2020 of the Board of the Central Bank of the Republic of Uzbekistan (registration number 916-1, June 10, 2020) — National Database of Legislative Acts, June 10, 2020, No. 10/20/916-1/0734)

5.2. With the entry into force of this Regulation, Resolution No. 315 dated February 28, 1997 of the Central Bank "On the Procedure for Coordinating, Accounting for, and Implementing Normative Acts Developed by Banks of the Republic of Uzbekistan" loses its force.

Deputy Chairman of the Central Bank A.Q. KADYROV (Bulletin of Normative Legal Acts of Ministries, State Committees, and Departments of the Republic of Uzbekistan, 2000, No. 7; National Database of Legislative Acts, June 10, 2020, No. 10/20/916-1/0734; , July 28, 2021, No. 10/21/3313/0724; August 5, 2022, No. 10/22/916-2/0718; January 17, 2025, No. 10/25/916-3/0042)