Amendments and Additions to the Guideline on Accounting and Organization of Accounting Work in Banks of the Republic of Uzbekistan

Decision of the Board of the Central Bank of the Republic of Uzbekistan, registered on 09.02.2015, registration number 1834-4

Date of Entry into Force

16.02.2015

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[OKOS:

1.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.17.00 Accounting and Reporting in Banks;

2.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.29.00.00 Accounting. Financial Reporting / 07.29.01.00 General Rules;

3.21.00.00.00 Complex Documents on Amendments and Additions / 21.04.00.00 Departmental Normative Legal Documents]

[TSZ:

1. State and Society Structure / Legislative Initiative. Norm-making Activity;

2. Finance / Banks and Other Credit Institutions. Credits;

3. Finance / Accounting]

DECISION OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF UZBEKISTON

On Amendments and Additions to the Guideline on Accounting and Organization of Accounting Work in Banks of the Republic of Uzbekistan

[Registered by the Ministry of Justice of the Republic of Uzbekistan on February 9, 2015, registration number 1834-4]

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", "On Banks and Banking Activity", and "On Accounting", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Make amendments and additions to the Appendix of the Guideline on Accounting and Organization of Accounting Work in Banks of the Republic of Uzbekistan, approved by Decision No. 11/5 of the Board of the Central Bank of the Republic of Uzbekistan dated May 3, 2008 (registration number 1834, July 11, 2008) (Collection of Legislation of the Republic of Uzbekistan, 2008, No. 28, Article 276).

2. This decision enters into force from the date of its official publication.

Acting Chairman of the Central Bank U. MUSTAFAYEV

Tashkent city,

December 30, 2014,

No. 47/9

APPENDIX

to the Decision of the Board of the Central Bank of the Republic of Uzbekistan dated December 30, 2014, No. 47/9

Amendments and Additions to the Guideline on Accounting and Organization of Accounting Work in Banks of the Republic of Uzbekistan

1. The second paragraph of paragraph 3 shall be worded as follows:

"Banks must develop an internal accounting policy that determines the procedure for accurate and complete accounting of the activities of branches, sub-banks, and other offices, taking into account the specific features of their work, to ensure the effectiveness of internal control, as well as the correct accounting of their income and expenses, timely preparation and submission of financial and tax reports, and the procedure for posting and storing monetary calculation documents."

2. Paragraphs 9 and 10 shall be worded as follows:

"9. The specific duties of accounting staff are established by the chief accountant and approved by the bank manager.

10. Responsible executive and controlling accountants are assigned the tasks of maintaining certain accounts or performing separate operations. Accounts are distributed among staff according to internal bank rules, whereby all deposit and loan accounts of a single economic entity are assigned to one accounting staff member. Accounts opened in foreign currency may be maintained by another staff member.

The book for distribution and redistribution of accounts among accounting staff is maintained manually or by software by the chief accountant."

3. The third sentence of the first paragraph of paragraph 11 shall be worded as follows:

"Ledger pages must be numbered, bound, and certified by the seal of the bank, the signature of the bank manager, and the signature of the chief accountant, and must be recorded in a separate book by a person appointed by the written order of the bank manager and exempted from operations with securities."

4. Paragraph 16 shall be supplemented with the following paragraph:

"The specific duties of Front-office and Back-office staff are established by the respective Heads of Front-office and Back-office and approved by the bank manager."

5. Paragraph 18 shall be worded as follows:

"18. The working day in sub-banks ends after the delivery of monetary calculation documents, which serve as the basis for operations performed during the bank working day, through the cash collection service to the bank before the end of the working day for final control and posting to the daily accounting journal summary."

6. Paragraphs 26 and 27 shall be worded as follows:

"26. All operations in banks are carried out and recorded in accounting based on paper and electronic forms of monetary calculation documents in the form established by the Central Bank of the Republic of Uzbekistan.

27. Monetary calculation documents, as well as other documents provided for in the bank account contract, are accepted by the bank only from persons indicated on the card with the customer's seal and signature submitted by the customer, or from the customer's authorized representative based on a power of attorney."

28. Paragraphs 31, 32, 33, 74, and 125 shall be deemed to have lost their force.

29. Paragraph 48 shall be worded as follows:

"48. Income and expense cash journals are formed using computer technology, and their details are filled out manually. They must indicate the date, the customer's account number, the number of the income and expense document, the reporting code, and its amount.

When income and expense cash journals are maintained in the computer during the bank's operational day, they are printed out at the end of the day and signed by the Front-office staff member who performed the preliminary control, the responsible executive, income or expense cashiers, and the cash manager.

The form of income and expense cash journals is provided in Appendix 4 of this Guideline."

9. The second paragraph of paragraph 57 shall be deleted.

10. The second sentence of the second paragraph of paragraph 60 shall be deleted.

11. Paragraph 67 shall be supplemented with the following paragraph:

"In this case, the daily summary submitted to the final control service staff must be numbered and bound."

12. The second sentence of paragraph 68 shall be deleted.

13. Paragraph 70 shall be supplemented with the following paragraph:

"The results of final control checks must be posted in a separate summary."

14. The second paragraph of paragraph 73 shall be deleted.

15. The first paragraph of paragraph 79 shall be worded as follows:

"If funds have been transferred for the payment of a bank plastic card and cash checks before the account holder informs the bank about their loss or theft, the bank is not liable for such payment."

16. Paragraph 123 shall be worded as follows:

"123. Personal accounts of customers are prepared by software based on primary documents. One copy of the personal account is printed for issuance to the customer, serving as a document certified by the bank of operations performed from the customer's account. This copy is obtained by persons indicated on the card with the customer's seal and signature submitted by the customer, or by the customer's authorized representative based on a power of attorney.

Copies of personal accounts are prepared in the Integrated Automated Banking System; when issued to customers, they are formalized with the signature of the responsible executive (Front-office staff) serving the customer and the attached bank stamp.

If banks require information about personal accounts, information from the unified database of electronic directories of the Integrated Automated Banking System is used."

17. In paragraph 157:

The seventh and eighth paragraphs shall be worded as follows:

"daily balance report.
The daily accounting journal is stored in electronic form in the established manner, and in necessary cases, the list of documents is obtained by software from the corresponding section of the daily accounting journal.";

The ninth paragraph shall be deleted.

18. Appendix 6 of the Guideline shall be worded in accordance with the Appendix to these amendments and additions.

APPENDIX

to the Amendments and Additions to the Guideline on Accounting and Organization of Accounting Work in Banks of the Republic of Uzbekistan

6th APPENDIX

to the Guideline on Accounting and Organization of Accounting Work in Banks of the Republic of Uzbekistan

List of Payment Documents Implemented in the Remote Service System for Bank Accounts
										UZS and Tiyin
No.	Number of Secondary Balance Sheet Accounts			Type of Payment Document (Code)		Number of Documents		Amount
1	2			3		4		5
List of Electronic Payment Documents Serving as the Basis for Crediting Bank Accounts for Interbank and Inter-branch Payments
										UZS and Tiyin
No.	Number of Secondary Balance Sheet Accounts of Fund Recipients			Type of Payment Document (Code)		Number of Documents		Amount
1	2			3		4		5
List of Memorial Orders Serving as the Basis for Operations Performed on Internal Bank Accounts
										UZS and Tiyin
No.	Number of Debited Secondary Balance Sheet Accounts			Number of Documents		Amount
1	2			3		4
List of Memorial Orders Serving as the Basis for Operations Performed on Unforeseen Situation Accounts
										UZS and Tiyin
No.	Number of Debited Unforeseen Situation Secondary Accounts			Number of Documents		Amount
1	2			3		4

At the end of each page, the number of documents on this page, the total amount of payment documents for this page, the signature of the bank manager, and the signature of the chief accountant must be present. For payment documents implemented through this software suite, the total number of documents, total amount, signature of the bank manager, and signature of the chief accountant must be present at the end of the document form."

(Collection of Legislation of the Republic of Uzbekistan, 2015, No. 6, Article 68)