Uzbekistan’s Central Bank imposed fines on seven banks and one microfinance organisation in January 2026, the regulator’s press service reported.
During the month, the Central Bank reviewed 27 issues and adopted corresponding decisions. The cases were related to registering amendments to credit institutions’ charters, granting permission to acquire shares in authorised capital, and issuing licences for payment organisations.
Two entities — “Baraka biznes hamkor mikromoliya tashkiloti” and “Effective money mikromoliya tashkiloti” LLC — were removed from the microfinance register at their own request. In addition, the licence granted to IT Unisoft Group JSC to conduct payment organisation activities was revoked upon its application.
The regulator also issued warnings to four payment organisations. Fines were imposed on seven banks and one microfinance institution for violations and shortcomings in servicing corporate bank cards.
Separately, in January, the licence of “Yangi bank” JSC was revoked after measures to address previously identified deficiencies proved ineffective. The bank failed to increase its authorised capital to the legally required minimum and did not comply with several regulatory requirements.
The Central Bank stated that the supervisory actions aim to strengthen financial discipline and ensure compliance within the banking and microfinance sectors.
It was reported earlier in late 2025 that banking reforms over the past seven years have strengthened Uzbekistan’s financial system. Commercial bank assets have grown 5.3 times to exceed UZS 877 trillion ($72.3bn), the number of banks has reached 35, and three foreign banks have entered the market since 2018.
For 2026, authorities aim to fully align the financial sector with the Basel Committee’s 29 Core Principles for Effective Banking Supervision. Plans include ensuring all commercial banks’ financial reporting meets international standards, completing Basel III implementation and establishing a Financial Stability Council comprising government and Central Bank representatives.
