In the financial market of Uzbekistan, various foreign banks were also carrying out their activities. However, recently an important decision regarding the banking system was made in our country.
According to the official statement of the Central Bank, on August 27 of this year, the license granting the right to conduct banking activities was officially revoked from the joint-stock company “Eurasian Bank.”
The official report notes that this decision was not made by chance. The reason is that the bank did not bring the size of its charter capital into compliance with the minimum requirements established by the current legislation. In addition, a number of other requirements provided for in the legislation “On banks and banking activities” were also not fulfilled.
The Central Bank emphasized that this situation is one of the measures implemented to ensure the stability of the financial market and to protect the interests of citizens. Since the main purpose of the banking system is to gain the trust of the population, ensure the safe storage of their funds, and provide stable financing of the economy.
In turn, the management of “Eurasian Bank” also issued an official statement. In it, they announced that they would cease their activities in Uzbekistan and stated that now the main focus would be directed to the financial market of Kazakhstan. According to the bank, working in foreign markets requires great responsibility, and in this process it is necessary to strictly comply with national legislative norms.
At the same time, according to financial analysts, this decision will not cause serious difficulties for the banking sector of our country. Since at present, a large number of major local and international banks operate in Uzbekistan, providing all the necessary services for the population and business entities.
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