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

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on 05.06.2023, registration number 3252-3

Date of Entry into Force

05.06.2023

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07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.01.00 General Issues]
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Finance / Banks and other credit institutions. Credits]

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

[Registered by the Ministry of Justice of the Republic of Uzbekistan on June 5, 2023, registration number 3252-3]

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Banks and Banking Activity", as well as the Decrees of the President of the Republic of Uzbekistan No. PF-269 dated December 21, 2022 "On Measures for Implementing Administrative Reforms in New Uzbekistan" and No. PF-14 dated January 25, 2023 "On Further Organizational Measures for Effective Organization of the Activities of Executive Authorities of the Republic", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions to the Regulation on the Procedure and Conditions for Granting Permission for Banking Activities, approved by Resolution No. 12/1 of the Board of the Central Bank of the Republic of Uzbekistan dated May 25, 2020 (registration number 3252, June 30, 2020) (National Database of Legal Acts, June 30, 2020, No. 10/20/3252/1098), shall be made in accordance with the Appendix.

2. This resolution enters into force from the date of its official publication.

Chairman M. NURMURATOV

Tashkent city,

May 26, 2023,

No. 14/11

APPENDIX

To Resolution No. 14/11 of the Board of the Central Bank of the Republic of Uzbekistan dated May 26, 2023

Amendments and Additions to the Regulation on the Procedure and Conditions for Granting Permission for Banking Activities

In paragraph 6, replace the words "Ministry of Finance of the Republic of Uzbekistan" with "Ministry of Economy and Finance of the Republic of Uzbekistan".

In paragraph 10:

in the first bullet point, replace the words ", holders of bank shares directly or indirectly" with "and shareholders";

remove the third bullet point;

renumber the fourth through sixth bullet points as the third through fifth bullet points, respectively;

add the following bullet points:

"legal entities registered in a state or territory where the provision of a preferential tax regime and (or) disclosure of the identity of the ultimate beneficial owner and submission of information during the conduct of financial transactions are not envisaged, and natural persons residing in such a state or territory (except for legal and natural persons who have purchased bank shares on foreign stock exchanges).

The persons specified in the second through fifth bullet points of this paragraph may not hold bank shares indirectly either."

Paragraph 67 shall be supplemented with the following bullet point:

"The information specified in the fourth bullet point of this paragraph is not submitted when bank shares are purchased on foreign stock exchanges." (, 05.06.2023, No. 10/23/3252-3/0330)