CBU introduces amendments to regulation on requirements to capital adequacy of commercial banks

Tashkent, Uzbekistan (UzDaily.com) -- Central Bank of Uzbekistan (CBU) adopted a resolution “On introduction of amendments to regulation on requirements to capital adequacy of commercial banks”.

In line with the document, now commercial banks cannot adopt decision on payment (announcement) dividends if their charter capital was not fully formed, except increasing charter capital via additional emission.

The banks also cannot pay dividends if the bank has insolvency (bankruptcy) signs or in case they appear after dividend payment.

Dividends cannot pay dividends if their net assets less than sum of its charter and reserve capital or economic norms, set by the CBU, are violated. It is also not allowed to pay dividends if the payment violates these norms, which can threat interests of depositors and creditors.

In line with amendments, Central Bank also can request commercial banks to stop payment of dividends.