On Amendments and Additions to the Resolution on Approving the Procedure for Maintaining Accounting and Organizing Accounting Work in Banks of the Republic of Uzbekistan

Resolution of the Board of the Central Bank of the Republic of Uzbekistan, registered on February 27, 2023, registration number 1834-10

Date of Entry into Force

February 28, 2023

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[OKOS:

1.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.17.00 Accounting and Reporting in Banks;

2.07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.29.00.00 Accounting. Financial Reporting / 07.29.01.00 General Rules]

[TSZ:

1. Finance / Banks and other credit institutions. Credits;

2. Finance / Accounting]

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

On Amendments and Additions to the Resolution on Approving the Procedure for Maintaining Accounting and Organizing Accounting Work in Banks of the Republic of Uzbekistan

[Registered by the Ministry of Justice of the Republic of Uzbekistan on February 27, 2023, registration number 1834-10]

In accordance with the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan", the Board of the Central Bank of the Republic of Uzbekistan resolves:

1. Amendments and additions shall be made to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated May 3, 2008, No. 11/5 "On Approving the Procedure for Maintaining Accounting and Organizing Accounting Work in Banks of the Republic of Uzbekistan" (registration number 1834, July 11, 2008) (Collection of Legislation of the Republic of Uzbekistan, 2008, No. 28, Article 276) attached.

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

Chairman M. NURMURATOV

Tashkent city,

January 24, 2023,

No. 1/7

Appendix to the Resolution of the Board of the Central Bank of the Republic of Uzbekistan dated January 24, 2023, No. 1/7 Resolution

Amendments and Additions to be Made to the Resolution on Approving the Procedure for Maintaining Accounting and Organizing Accounting Work in Banks of the Republic of Uzbekistan

1. The [Preamble](/docs/1370900?ONDATE=21.07.2008 00#1371367) of the Resolution shall be stated in the following wording:

"In accordance with the [Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan"], the Board of the Central Bank of the Republic of Uzbekistan resolves:".

2. In the [Instruction](/docs/1370900?ONDATE=21.07.2008 00#1371380):

1. the [Preamble](/docs/1370900?ONDATE=29.07.2020 00#4929616) shall be stated in the following wording:

"This Instruction establishes the procedure for maintaining mandatory accounting and organizing accounting work for banks.";

2. in the [second paragraph](/docs/1370900?ONDATE=13.08.2019 00#4477250) of Clause 3, the [second](/docs/1370900?ONDATE=21.07.2008 00#1371401), [third](/docs/1370900?ONDATE=19.07.2012 00#2036504), [sixteenth](/docs/1370900?ONDATE=21.07.2008 00#1371417) and [seventeenth paragraphs](/docs/1370900?ONDATE=21.07.2008 00#1371418) of Clause 5, the [first paragraph](/docs/1370900?ONDATE=13.08.2019 00#4477456) of Clause 18, [Clause 22](/docs/1370900?ONDATE=13.08.2019 00#4477489), [Clauses 26](/docs/1370900?ONDATE=16.02.2015 00#2573229), the [first paragraph](/docs/1370900?ONDATE=13.08.2019 00#4477583) of Clause 37, [Clause 46](/docs/1370900?ONDATE=27.05.2013 00#2173989), [Clause 49](/docs/1370900?ONDATE=21.07.2008 00#1371506), [Clause 51](/docs/1370900?ONDATE=21.09.2015 00#2757766), [Clause 58](/docs/1370900?ONDATE=21.07.2008 00#1371516), [Clause 59](/docs/1370900?ONDATE=21.07.2008 00#1371518), [Clause 65](/docs/1370900?ONDATE=21.07.2008 00#1371525), [Clause 66](/docs/1370900?ONDATE=13.08.2019 00#4477701), [Clause 68](/docs/1370900?ONDATE=16.02.2015 00#2573252), [Clause 71](/docs/1370900?ONDATE=21.07.2008 00#1371533), the [second paragraph](/docs/1370900?ONDATE=28.07.2021 00#5635926) of Clause 73, the [first paragraph](/docs/1370900?ONDATE=29.07.2020 00#4929652) of Clause 78, [Clause 80](/docs/1370900?ONDATE=13.08.2019 00#4477657), [Clause 84](/docs/1370900?ONDATE=21.07.2008 00#1371555), and [Clause 132](/docs/1370900?ONDATE=21.07.2008 00#1371689), the [second paragraph](/docs/1370900?ONDATE=21.07.2008 00#1371698) of Clause 136, the words "cash settlements" shall be replaced with the word "payments";

3. in [Clause 27](/docs/1370900?ONDATE=20.06.2016 00#2988289), the [first paragraph](/docs/1370900?ONDATE=21.07.2008 00#1371467) of Clause 28, [Clause 29](/docs/1370900?ONDATE=21.07.2008 00#1371474), [Clause 38](/docs/1370900?ONDATE=13.08.2019 00#4477587) and [Clause 63](/docs/1370900?ONDATE=21.07.2008 00#1371523), the words "Cash Settlements" shall be replaced with the word "Payments";

4. in the [titles](/docs/1370900?ONDATE=21.07.2008 00#1371464) of [Chapter 3](/docs/1370900?ONDATE=21.07.2008 00#1371463) and its Paragraph 1, the words "Cash Settlements" shall be replaced with the word "Payments";

5. the [first paragraph](/docs/1370900?ONDATE=28.07.2021 00#5635900) of Clause 30 shall be stated in the following wording:

"30. Bank operations may be carried out based on electronic documents formalized in the form established by legislative acts (accounting performed through the Remote Banking Service System or bank cards). Electronic documents must contain all requisites specified for the original copy of payment documents.";

6. in [Clause 44](/docs/1370900?ONDATE=21.07.2008 00#1371498), the words "not provided for" shall be replaced with the words "off-balance sheet";

7. the [first sentence](/docs/1370900?ONDATE=21.07.2008 00#1371510) of Clause 52 shall be stated in the following wording:

"52. If deficiencies and flaws are identified in the payment documents submitted by the client that contradict the requirements established in the Regulation on Non-Cash Settlements in the Republic of Uzbekistan (registration number 3229, April 13, 2020), the payment documents shall be returned to the client without acceptance for execution.";

8. the words "in accordance with the requirements of legislative acts" shall be deleted from [Clause 72](/docs/1370900?ONDATE=28.07.2021 00#5635904);

9. [Clause 76](/docs/1370900?ONDATE=21.07.2008 00#1371541) shall be supplemented with the words "(transmitted through remote service programs)" after the words "copies issued";

10. in [Clause 79](/docs/1370900?ONDATE=16.02.2015 00#2573262):

the [first paragraph](/docs/1370900?ONDATE=16.02.2015 00#2573262) shall be stated in the following wording:

"79. If funds have been transferred for the said bank card and checks before the account holder notifies the bank about the loss or theft of the bank card and cash check, the bank is not liable for such payment.";

in the [fourth paragraph](/docs/1370900?ONDATE=21.07.2008 00#1371548), the words "cash settlements" shall be replaced with the word "payments";

11. [Clause 90](/docs/1370900?ONDATE=19.07.2012 00#2036570) shall be stated in the following wording:

"90. The accounting of the Bank's operational expenses is maintained in the order established by the definition of the corresponding accounts in the Chart of Accounts for Accounting in Commercial Banks (registration number 3336, November 26, 2021).";

12. [Clause 97](/docs/1370900?ONDATE=21.07.2008 00#1371584) shall be stated in the following wording:

"97. Power of attorney for the receipt of material valuables is formalized in paper or electronic form by the decision of the Bank in accordance with Appendix 5 of this Instruction.

Power of attorney formalized in paper form is confirmed by the signatures of the Bank's Head (or Deputy) and Chief Accountant, as well as the Bank's seal.

Power of attorney formalized in electronic form is confirmed by the electronic digital signatures of the Bank's Head (or Deputy) and Chief Accountant.";

13. [Clause 98](/docs/1370900?ONDATE=21.07.2008 00#1371588) shall be supplemented with the following paragraph:

"When this register is maintained in electronic form, the requirements of the second paragraph of this clause are not applied.";

14. [Clause 99](/docs/1370900?ONDATE=21.07.2008 00#1371593) shall be deemed to have lost its force;

15. in the [first paragraph](/docs/1370900?ONDATE=21.07.2008 00#1371684) of Clause 129, the [third paragraph](/docs/1370900?ONDATE=21.07.2008 00#1371707) of Clause 141, [Clause 162](/docs/1370900?ONDATE=21.07.2008 00#1371773) and [Clause 168](/docs/1370900?ONDATE=21.07.2008 00#1371783), the words "Not Provided For" shall be replaced with the words "Off-Balance Sheet";

16. in [Clause 138](/docs/1370900?ONDATE=21.07.2008 00#1371700), the word "END" shall be replaced with the word "END";

17. in [Clause 1476](/docs/1370900?ONDATE=13.08.2019 00#4478354):

in the [third paragraph](/docs/1370900?ONDATE=13.08.2019 00#4478358), the words "Credit 45401 'Profit from Foreign Currency Spot Transactions'" shall be replaced with the words "Credit 45403 'Profit from Revaluation of Currency Balances'";

in the [fifth paragraph](/docs/1370900?ONDATE=13.08.2019 00#4478362), the words "Debit 55302 'Loss from Foreign Currency Spot Transactions'" shall be replaced with the words "Debit 55304 'Losses from Revaluation of Currency Balances'".

18. the [third paragraph](/docs/1370900?ONDATE=13.08.2019 00#4478516) of Clause 157 shall be supplemented with the words ", except for memorials formed through software calculation and memorials formed for partial payments" after the words "first copy";

19. in [Appendix 1](/docs/1370900?ONDATE=21.07.2008 00#1371809):

a) in [Clause 7](/docs/1370900?ONDATE=13.08.2019 00#4478921), the words "Qualification requirements for heads of Commercial Banks and their branches, Chief Accountants, Board Members, Microcredit Organizations, and heads of executive bodies of Credit Bureaus (registration number 2989, March 30, 2018)" shall be replaced with the words "Regulation on the Procedure and Conditions for Licensing Banking Activity (registration number 3252, March 30, 2020)";

b) in [Clause 16](/docs/1370900?ONDATE=21.07.2008 00#1371856), the [third](/docs/1370900?ONDATE=21.07.2008 00#1371867) and [fifth paragraphs](/docs/1370900?ONDATE=21.07.2008 00#1371872) of Clause 18, the words "cash settlements" shall be replaced with the word "payments";

20. in the [text](/docs/1370900?ONDATE=13.08.2019 00#4478974) of Appendix 7, the words "Not Provided For" shall be replaced with the words "Off-Balance Sheet".

(, dated February 28, 2023, No. 10/23/1834-10/0116)