Regulatory Alerts1998-11-09 | 431Added · Updated
Regulations on Unsafe and Unsound Banking Activities
The Central Bank of Uzbekistan's Regulation on Unsafe and Unsound Banking Activities, approved on November 9, 1998, was officially recognized as having lost its legal force on December 30, 2019, pursuant to the Board of Directors' Resolution No. 30/12 dated December 13, 2019. This document previously defined unsafe and unsound banking activities as actions or inactions contradicting accepted reasonable banking norms that pose real risks to depositors, creditors, and investors, and established prohibitions against such practices. It also empowered the Central Bank to identify specific activities or operations as unsafe or unsound based on evidence of potential losses and to apply sanctions against banks engaging in such activities.
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