Approved by Board of the Central bank of the Republic of Uzbekistan of June 24, 2000 No. 472

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", "About joint-stock companies and protection of shareholder rights", the resolution of the President of the Republic of Uzbekistan of May 6, 2015 No. PP-2344 "About measures for further increase in financial stability of commercial banks and development of their resource base" and the Presidential decree of the Republic of Uzbekistan of April 24, 2015 No. UP-4720 "About Measures for Implementation of Modern Corporate Management Methods in Joint-stock Companies" determines bases of the organization of corporate management in commercial banks.

1. General provisions

1.1. The concept "corporate management" is understood as the set of rules which determine the main actions of shareholders, members of council and other leading employees in management of activities of commercial bank. The concept of proper corporate management also includes use of ethical standards of business, sense of responsibility in respect of shareholders and acceptance in attention of needs of society in which the bank works.

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