Central Bank to impose tough sanctions against “Davr” bank and its leadership

The Central Bank of Uzbekistan is ready to impose tough sanctions on “Davr” bank and its management.

It should be recalled that recently in Tashkent, two employees of “Davr” bank were detained on suspicion of multi-million embezzlement.

According to the press service of the police department of Tashkent, the internal affairs bodies received an appeal from a resident of the Syrdarya region. He said that on April 9 of this year, he applied to the Uchtepa branch of “Davr” bank for a mortgage loan and paid 75 million soums as a down payment. But the money was not transferred to the account of the developer.

Later on, the internal affairs bodies received statements of a similar nature from twenty more people. All of them applied for a loan or for opening a personal bank account. In connection with this fact, the Uchtepa district police department filed a criminal case under Part 3, Paragraph “a” of Article 168 (fraud) of the Criminal Code. On suspicion of committing this crime, two employees of the above-mentioned branch of “Davr” bank were detained.

On May 1, the detainees were prosecuted at the Uchtepa district court on criminal proceedings, and a preventive measure in the form of detention was chosen against them. Currently, the criminal case is being conducted by the Investigation department of Tashkent.

According to the regulator’s press service, on May 7, the head of the Central Bank’s Consumer Banking Services Department met with a group of citizens who complained about the actions of the “Davr” bank employees regarding the embezzlement of funds invested in bank deposits. The statement on violation of clients' rights by the “Davr” bank was accepted for further proceedings. On the same day, the heads of “Davr” bank were invited to the Central Bank to clarify the circumstances of the stated claims.

“The Central Bank adheres to the position that a commercial bank is fully responsible for all actions performed by its employees on behalf of the bank. In this regard, the bank was given an order to settle the issues of reimbursement of damage, with subsequent recourse requirements for guilty employees at the shortest possible time,” the CB stated.

The Central Bank stated that if “Davr” bank does not take practical steps to resolve issues with affected citizens, it is ready to impose tough sanctions up to the suspension of certain banking operations.

According to the Central Bank, the whole situation will be under constant control until all issues are resolved.