The Central Bank of Uzbekistan said that the license was revoked in line with the articles 17 and 53 of the Law of Uzbekistan “On Central Bank of Uzbekistan” and article 6 and 28 of the Law “On credit unions” and clause 5 of regulation “On approval of regulation on measures and sanctions, used by the Central Bank of Uzbekistan to commercial banks, credit unions, microcredit organizations and pawnshops for violation of legislation on fighting legalization of income, received from criminal activity, and financing of terrorism.”

Central Bank of Uzbekistan said that Aktiv-Invest credit union violated requirements of legislation of Uzbekistan “On credit unions” and “On fighting legislation of income, received from crime activity, and financing terrorism”, as well as did not executed orders of the Central Bank.

The liquidation of the credit union will be conducted in line with the legislation of Uzbekistan, including in line with Central Bank’s regulation “On reorganization and liquidation of credit unions”.