Amendments to the Rules for Carrying Out Currency Operations in the Republic of Uzbekistan

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on December 18, 2023, registration number 3281-3

Date of Entry into Force

December 21, 2023

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[OKOS:

1.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.13.00 Currency Operations (see also 07.27.00.00)]

[TSZ:

1. Finance / Currency Regulation. Precious Metals (Stones)]

Resolution of the Board of the Central Bank of the Republic of Uzbekistan

On Amendments to the Rules for Carrying Out Currency Operations in the Republic of Uzbekistan

[Registered by the Ministry of Justice of the Republic of Uzbekistan on December 18, 2023, registration number 3281-3]

In accordance with the Laws of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan" and "On Currency Regulation," the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments shall be made to the [Appendix] to the [Rules] for Carrying Out Currency Operations in the Republic of Uzbekistan, approved by Resolution No. 18/5 of the Board of the Central Bank of the Republic of Uzbekistan dated August 29, 2020 (registration number 3281, August 31, 2020) (National Database of Legal Acts, August 31, 2020, No. 10/20/3281/1242).

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

Chairman of the Central Bank M. NURMURATOV

Tashkent city,

November 27, 2023,

No. 39/6

Appendix

to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated November 27, 2023, No. 39/6

Amendments to the Rules for Carrying Out Currency Operations in the Republic of Uzbekistan

1. Subparagraph 17 of Clause 2 shall be worded as follows:

"transactions related to the sale and purchase of shares and bonds (excluding bonds of the Central Bank of the Republic of Uzbekistan) by non-residents in organized trading of the securities market, including through exchange brokers and investment intermediaries;".

2. Clause 3 shall be worded as follows:

"3. The opening of accounts in banks of the Republic of Uzbekistan by residents and non-residents is carried out in the manner established by the Instruction on the procedure for opening, maintaining, and closing bank accounts (registration number 3420, February 8, 2023).".

3. In Clause 19:

the words "shares in open electronic trading organized by securities trading organizers" in the first, fourth, fifth, and seventh subparagraphs shall be replaced with the words "shares and bonds (excluding bonds of the Central Bank) in organized trading of the securities market";

the words "in open electronic trading organized by securities trading organizers" in the eighth subparagraph shall be replaced with the words "in organized trading of the securities market".

4. In subparagraph 6 of Clause 21, the words "shares in open electronic trading organized by securities trading organizers" shall be replaced with the words "shares and bonds (excluding bonds of the Central Bank) in organized trading of the securities market".

5. Subparagraph 2 of Clause 26 shall be worded as follows:

"Funds credited to a special currency account include foreign currency purchased by the client, as well as foreign currency previously withdrawn from this account, unused, or returned for other reasons.".

6. In Clause 29:

the first subparagraph shall be worded as follows:

"29. Currency funds purchased by a bank client (including unused or returned currency) must be used within seven bank working days from the time they are credited to the client's special currency account, or sold back to the commercial bank without delay on the bank working day following the expiration of this period.";

the second subparagraph shall be deleted;

the third subparagraph shall be considered the second subparagraph.

7. From the first subparagraph of Clause 46, the words ", except for cases where the completion of a passenger customs declaration is not required in accordance with legislative acts" shall be deleted.

(Authority, No. 10/23/3281-3/0952, December 21, 2023)