The Central Bank imposed operational restrictions on another commercial bank in November. This move is part of the regulator’s ongoing efforts to ensure compliance with banking regulations and maintain financial stability.
The Banking Supervision Committee of the Central Bank, which held seven meetings in November, deliberated on 26 tasks. The majority of these tasks pertained to licensing issues, including the registration of amendments to the charters of credit institutions, approval of candidates for bank management, and certification of auditors.
The committee also reviewed 10 issues related to inspections of credit institutions. As a result, the Central Bank curtailed certain operations of a bank due to its non-compliance with instructions and delayed execution of macroprudential tasks.
The regulator issued warnings to four banks and two microfinance organizations for non-compliance with regulatory documents and late submission of necessary data for monitoring to the Central Bank.
Penalties were imposed on four banks for non-compliance with prudential standards. A payment organization was also fined for offences.
In a similar move in October, the regulator restricted operations for AVO Bank due to insufficient authorized capital. During that period, 16 commercial banks were fined and six institutions received warnings. These actions underscore the regulator’s commitment to enforcing banking regulations and ensuring the soundness of the financial system.
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