Regulatory Alerts2017-09-23 | 26/16Added · Updated
Approval of the Regulation on the Procedure for Carrying Out Currency Exchange Operations with Individuals in Commercial Banks
The Central Bank of Uzbekistan approved a regulation governing currency exchange operations with individuals and individual entrepreneurs in commercial banks. The document establishes operational rules for conversion departments and currency exchange branches, including requirements for staffing, security, and equipment. It mandates the use of international payment cards for non-cash currency sales and requires the recording of transactions in an electronic system, with specific documentation and identity verification needed for transactions exceeding 500 times the minimum monthly wage.
More like this from CBU
We email you every new CBU publication the day it's published.
Topics
fx
kyc
Share