Central Bank of the Republic of Uzbekistan issues supervisory penalties and restricts TEZPAY and NATIONAL PAY payment operations for six months

The Central Bank of the Republic of Uzbekistan published the outcomes of its Bank Supervision Committee’s seven meetings in October 2025, covering registration and authorisation decisions and supervisory measures following prudential and compliance reviews. The committee issued warnings and financial penalties to multiple institutions and imposed a six-month restriction on certain payment services and operations at TEZPAY and NATIONAL PAY starting 13 November 2025. Across 24 agenda items, 14 related to registration and authorisation, including registration of amendments to credit institutions’ charters, registration of two newly established microfinance institutions, removal of one microfinance institution from the registry, permissions to acquire shares in the charter capital of credit institutions, and reviews of candidates for bank supervisory and management boards and other key personnel. A further 10 items addressed the financial condition of credit institutions, including compliance with the Central Bank’s instructions and prudential standards, inspection results in banks and microfinance institutions, consumer protection in banking services, and anti–money laundering, counter-terrorism financing, and counter–proliferation financing matters. One bank and one payment organisation received warnings, while three banks, five microfinance institutions, and two payment organisations were fined; TEZPAY and NATIONAL PAY were restricted from specific activities including processing electronic payments, providing banks with required information for payment execution, accepting funds, and conducting transfers.