Amendment of Regulation On Corporate Management of Commercial Banks
Resolution of the Board of the Central Bank of the Republic of Uzbekistan (registered with the Ministry of Justice on April 20, 2012 No.943-3) amends the Regulation On Corporate Management of Commercial Banks. According to the amendment, from now on the composition of the Board of a commercial bank must include, among others, a legal executive. The list of duties of the Council of a bank has been extended and now must include sustention of capitalization of the bank. The Banking Risks Surveillance Committee shall now be directly submitted to the Council of the bank. Effective April 30, 2012.
