RESOLUTION OF BOARD OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of May 25, 2020 No. 12/8

About approval of the Regulations on corporate management in commercial banks

According to the laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" and "About banks and banking activity" the Board of the Central bank of the Republic of Uzbekistan DECIDES:

1. Approve Regulations on corporate management in commercial banks according to appendix.

2. This resolution becomes effective after three months from the date of its official publication.

Appendix

to the Resolution of Board the Central bank of the Republic of Uzbekistan of May 25, 2020 No. 12/8

Regulations on corporate management in commercial banks

This Provision according to the laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan", "About banks and banking activity" and "About joint-stock companies and protection of shareholder rights" determines bases of the organization of corporate management in commercial banks.

Chapter 1. General provisions

1. Corporate management is understood as the set of the relations between governing bodies of bank and other concerned parties providing necessary organizational system for determination of strategic objectives of bank and control of their achievement including distribution of powers and responsibility of governing bodies and creation of possibility of acceptance of management decisions.

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