Uzbekistan’s Central Bank Revokes Yangi Bank’s License
Economy
Uzbekistan’s Central Bank has revoked the license of Yangi Bank for failing to comply with regulatory requirements.
The Central Bank of Uzbekistan has decided to revoke the operating license of commercial bank Yangi Bank, the regulator’s press service reported.
According to the statement, the bank failed to increase its authorized capital to the required minimum level and did not meet several other mandatory requirements of banking legislation and regulatory standards.
The Central Bank said the decision was taken to protect depositors’ interests and maintain the stability of the national banking system. Further details regarding subsequent procedures will be announced later.
According to the statement, the bank failed to increase its authorized capital to the required minimum level and did not meet several other mandatory requirements of banking legislation and regulatory standards.
The Central Bank said the decision was taken to protect depositors’ interests and maintain the stability of the national banking system. Further details regarding subsequent procedures will be announced later.
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