Central Bank of Uzbekistan Studies Experience of Financial Regulators in Hong Kong and Malaysia in Fintech Sphere

The Banking Supervision Committee of the Central Bank of Uzbekistan held six meetings in October 2026, during which 43 issues were reviewed and corresponding decisions were made. This was reported by the Central Bank of Uzbekistan.

Details of the Reviewed Issues

As part of the committee's work, 23 issues concerning registration and permit issuance were examined. These issues included eight cases related to changes in the charters of credit institutions, two cases regarding the issuance of qualification certificates to auditors authorized to conduct banking audits, and four issues on the registration of microfinance organizations, accreditation, and licensing of payment organizations. Additionally, the committee considered one application for permission to acquire a stake in the charter capital of a credit institution.

Another eight issues were dedicated to candidates for positions on the supervisory boards and management boards of commercial banks, as well as employees holding key positions. An additional 20 issues concerned the financial condition of credit and payment organizations.

Discussed Aspects and Sanctions

Discussions covered compliance with the Central Bank's instructions and prudential requirements, the results of inspections of banks and non-bank credit institutions, as well as the testing of financial services provided by organizations operating in the regulatory sandbox. As a result of violations of prudential requirements and legislation, as well as those identified during inspections, six banks and two microfinance organizations were fined. Furthermore, one bank and one microfinance organization were issued warnings regarding the possible application of measures and sanctions.

A delegation from the Central Bank of Uzbekistan visited the Central Bank of Azerbaijan from October 28 to 29, 2026. Bilateral meetings were held in Baku focusing on strategic planning, project management, and improving business processes.

During the negotiations, representatives of the two financial regulators exchanged knowledge on developing and implementing strategic documents, as well as on applying strategic management models and project portfolio management.

Particular attention was paid to digital transformation, as well as practical methods for optimizing and reorganizing workflows. The purpose of the visit was to analyze the experience of the central banks of both countries in the field of strategic and project management, as well as to develop cooperation and exchange views on implementing effective management practices.

The Central Bank of Uzbekistan, together with the Asian Development Bank (ADB), analyzed the results of its technical cooperation for the period 2023–2026 and discussed the prospects of launching new joint projects, according to the Central Bank's press service.

The meeting took place concurrently with the Samarkand Islamic Finance Forum in 2026. Participants included Deputy Chairman of the Central Bank Sanjar Nosirov, Director of Financial Inclusion Dilbar Abduganiyeva, heads of relevant departments, as well as ADB's Director of Financial Sector Mohd Sani Mohd Ismail.

Participants reviewed the technical assistance provided by the ADB to the Central Bank from 2023 to 2026. The cooperation focused on increasing the accessibility of financial services, consumer protection, promoting financial literacy, and strengthening risk-based supervision of the non-banking sector.

Furthermore, the parties exchanged views on potential new areas of technical interaction. These include the development of the Islamic capital market, the introduction of liquidity management tools, and the improvement of supervision over the non-banking financial sector.

Following the negotiations, representatives of the Central Bank and the ADB expressed interest in further developing cooperation and implementing joint projects in the agreed areas.