Regulatory Alerts1998-09-23 | ПФ-2079Added
On Measures to Encourage Foreign Currency Deposits of Individuals
Commercial banks in Uzbekistan are required to provide guarantees for the unconditional return of freely convertible currency deposits and the payment of interest, while implementing new progressive interest rate scales for individual depositors. The decree mandates strict adherence to bank secrecy for personal deposits and operations, prohibits illegal attempts by law enforcement and tax authorities to disclose such information, and requires relevant ministries to align existing regulations with these provisions within one month. Implementation oversight is assigned to the Prime Minister and the Governor of the Central Bank of Uzbekistan.
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