Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank of Uzbekistan in 2018 applied interventions in the form of restrictions on individual operations against 12 banks and fines against 28 banks for 20.5 billion soums for violation requirements of banking legislation.

Temporary restrictions on operations were applied in the form of a ban on dividend payments (10 banks), participation in the currency exchange trading, (1 bank), attracting household deposits, and carrying out active operations with related persons of the bank and with foreign banks (Haitekbank, Ravnakbank, Universalbank).

Penalties were applied for violations:

• identified by the results of inspections of 13 banks - 5.9 billion soums;
• in implementation of foreign exchange transactions - 5.1 billion soums from 26 banks;
• economic standards - 4.2 billion soums from 24 banks;
• requirements of internal control rules - 3.8 billion soums from 8 banks;
• rights of consumers of banking services - 120 million soums from two banks (the practice of collecting fines in this area began recently).
• In terms of economic standards, banks in most cases did not comply with liquidity standards and open currency position limits.

The amount of fines levied during the period in terms of banks varied from 50 million to 2.0 billion soums. Six banks were fined up 250 million soums, 7 banks – 250-500 million soums, 7 banks - 500-1000 million soums and 8 banks - 1 -2 billion soums.

In addition to banks, fines were imposed on the results of inspections of 9 microcredit organizations in the amount of 170 million soums and 3 pawnshops in the amount of 27.6 million soums.

According to the measures applied in 2018, the Central Bank sent instructions to the management of credit institutions to take measures to eliminate violations and prevent their causes.