Regulatory Alerts2023-05-26 | 14/11Added · Updated
Resolution of the Board of the Central Bank of the Republic of Uzbekistan on Amendments and Additions to the Regulation on the Procedure and Conditions for Granting Permission for Banking Activities
The Board of the Central Bank of the Republic of Uzbekistan amends the Regulation on the Procedure and Conditions for Granting Permission for Banking Activities by updating the name of the supervisory ministry from the Ministry of Finance to the Ministry of Economy and Finance. The resolution introduces new provisions prohibiting persons registered in jurisdictions that do not require disclosure of beneficial ownership or information during financial transactions from directly or indirectly holding bank shares, with specific exceptions for purchases via foreign stock exchanges. Additionally, it clarifies that information regarding certain beneficial ownership details is not required when bank shares are acquired through foreign stock exchanges.