Regulatory Alerts2015-12-24
Added · Updated
Improvement of Procedures for Formalizing Deposit Operations in Banks
The Central Bank of Uzbekistan has approved a revised Instruction on deposit operations, introducing stricter controls and simplifying processes for commercial banks. Key changes include reducing the threshold for classifying deposits as 'inactive' from three to one year, prohibiting the use of transit accounts for deposit funds, and mandating the establishment of personal account services on bank websites. The revision also authorizes electronic deposit plastic cards, allows SMS-based inventory checks, eliminates certain non-cash order forms, and permits computer-filled deposit books and account continuations without opening new accounts upon maturity.
More like this from CBU
We email you every new CBU publication the day it's published.