Regulatory Alerts2017-11-24 | 31/2Added · Updated
Amendments and Additions to the Regulation on the Procedure for Carrying Out Certain Currency Operations Related to Capital Movements
The Central Bank of Uzbekistan amends the Regulation on the Procedure for Carrying Out Certain Currency Operations Related to Capital Movements by replacing all references to "authorized banks" with "commercial banks". A new paragraph 6.1 is added to authorize capital outflows exceeding the equivalent of 10,000 USD for foreign investments, loans to non-residents, and fund transfers to foreign accounts or real estate purchases, provided they are based on decisions of the President, the Cabinet of Ministers, or an international treaty. Additionally, paragraph 12 is revised to clarify that currency operation accounting follows the transfer of a resident's main deposit account to another commercial bank, with documentation handled via acceptance-transfer acts.
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