Regulatory Alerts2021-03-25 | 3/4Added · Updated
Amendments and Additions to the Rules for Conducting Currency Operations in the Republic of Uzbekistan
The Central Bank of Uzbekistan amends the Rules for Conducting Currency Operations by replacing 'two' with 'next' in clause 27 and stipulating that unpaid transactions are cancelled if not settled on time. Clause 29 establishes that foreign currency resale occurs at the market rate without acceptance. New reporting requirements mandate commercial banks to notify the Central Bank within three days of bringing cash currency into Uzbekistan. Furthermore, the removal of cash currency from the country is now subject to Central Bank permission, requiring applications with specific details and decisions rendered within three banking days.
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