Uzbekistan registers its first digital bank

Finance Materials 26 August 2020 16:45 (UTC +04:00)
Uzbekistan registers its first digital bank

BAKU, Azerbaijan, Aug. 26

By Ilkin Seyfaddini - Trend:

Banking Supervision Committee under the Central Bank of Uzbekistan has issued preliminary permission to establish a digital ANOR BANK JSC in Tashkent, Trend reports with reference to the Central Bank.

"The Board of the Central Bank of Uzbekistan made a decision on registration of ANOR BANK Joint Stock Company in Tashkent city and granting it a license for banking activity," the report said.

Regulation on procedure and conditions of admission to banking activity came into force on October 1, 2020.

It establishes a specific set of criteria that should be met by founders and potential acquirers, members of the supervisory board, as well as key personnel of financial institutions.

"All contacts are made through a 24-hour contact center and remote service channels anywhere in the world. Anorbank's mobile representatives will also be available at client convenience," the message said.

Earlier, the Central Bank of Uzbekistan has signed agreements with International Finance Corporation in the field of development of digital financial services and financial literacy.

The main purpose of these projects is to increase the financial accessibility of financial services for the population.

The agreements are also aimed at improving the regulatory environment for the development of electronic and digital financial services and the implementation of programs to improve financial literacy.


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