On Measures to Encourage Foreign Currency Deposits of Individuals

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Reference to the previous edition

Reference to the previous edition

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Indexing by CMQ

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01.08.2020

09.07.2020

12.10.2009

23.09.1998

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Russian Eng Uzbek O’zb Uzb|Russian

[ OKOZ: 1. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Regulation of Currency and Currency Control / 07.27.07.00 Currency Accounts; 2. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Regulation of Currency and Currency Control / 07.27.09.00 Currency Control] [ TSZ: 1. Finance / Currency Regulation. Precious Metals (Stones); 2. Finance / Banks and Other Credit Institutions. Credits] Send suggestions for the document Listen to audio Get reference from document element Send suggestions for the document Listen to audio Get reference from document element Send suggestions for the document Listen to audio Get reference from document element President of the Republic of Uzbekistan Send suggestions for the document Listen to audio Get reference from document element Send suggestions for the document Listen to audio Get reference from document element Decree Send suggestions for the document Listen to audio Get reference from document element Send suggestions for the document Listen to audio Get reference from document element ON MEASURES TO ENCOURAGE FOREIGN CURRENCY DEPOSITS OF INDIVIDUALS Send suggestions for the document Listen to audio Get reference from document element Send suggestions for the document Listen to audio Get reference from document element To ensure further liberalization of the Republic's currency market, increase citizens' interest in opening currency deposits, and develop modern types of banking services that meet international practice requirements:

See previous edition. (The first paragraph was invalidated by the Decree of the President of the Republic of Uzbekistan No. PF-4148 dated October 12, 2009)

See previous edition. (The second paragraph will be invalidated from August 1, 2020, based on the Decree of the President of the Republic of Uzbekistan No. PF-6021 dated July 8, 2020 — National Database of Legislation Acts, 09.07.2020, No. 06/20/6021/1047)

Send suggestions for the document Listen to audio Get reference from document element See previous edition. Send suggestions for the document Listen to audio Get reference from document element

[ OKOZ: 1. 03.00.00.00 Civil Legislation / 03.11.00.00 Particular Types of Obligations / 03.11.15.00 Bank Deposit; 2. 03.00.00.00 Civil Legislation / 03.11.00.00 Particular Types of Obligations / 03.11.21.00 Savings; 3. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.05.00 Bank Deposits and Other Deposit Operations; 4. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Regulation of Currency and Currency Control / 07.27.03.00 Currency Operations (Transactions) / 07.27.03.02 Currency Operations Related to Capital Movement; 5. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.27.00.00 Regulation of Currency and Currency Control / 07.27.04.00 Settlements and Payments in Foreign Currency] Send suggestions for the document Listen to audio Get reference from document element 3. To commercial banks of the Republic: (The first line of paragraph 3 enters into force from August 1, 2020, in the edition of the Decree of the President of the Republic of Uzbekistan No. PF-6021 dated July 8, 2020 — National Database of Legislation Acts, 09.07.2020, No. 06/20/6021/1047) Send suggestions for the document Listen to audio Get reference from document element provide relevant guarantees for the storage of freely convertible currency deposits for depositors and their unconditional return, as well as for the payment of interest added to the currency in the deposit account; Send suggestions for the document Listen to audio Get reference from document element introduce new, progressive scales of interest rates on mutually beneficial terms for deposits of individuals in freely convertible currency;

[ OKOZ: 1. 07.00.00.00 Legislation on Finance and Credit. Banking Activity / 07.21.00.00 Banking Activity / 07.21.16.00 Bank Secrecy (also see 12.03.05.03); 2. 12.00.00.00 Information and Informatization / 12.03.00.00 Information Resources. Use of Information Resources / 12.03.05.00 Restricted Use Information / 12.03.05.03 Bank Secrecy (also see 07.21.16.00)] Send suggestions for the document Listen to audio Get reference from document element ensure strict compliance with the confidentiality of personal deposits and operations performed on them at the bank in accordance with current legislation;

[ OKOZ: 1. 12.00.00.00 Information and Informatization / 12.06.00.00 Advertising (also see 09.09.00.00)] Send suggestions for the document Listen to audio Get reference from document element it is recommended to organize necessary explanatory work and advertising campaigns to convey to the population the convenience and profitability of opening deposits in freely convertible currency.

[ OKOZ: 1. 12.00.00.00 Information and Informatization / 12.03.00.00 Information Resources. Use of Information Resources / 12.03.05.00 Restricted Use Information / 12.03.05.03 Bank Secrecy (also see 07.21.16.00); 2. 12.00.00.00 Information and Informatization / 12.03.00.00 Information Resources. Use of Information Resources / 12.03.05.00 Restricted Use Information / 12.03.05.05 Other Restricted Use Information] Send suggestions for the document Listen to audio Get reference from document element 4. The Prosecutor's Office of the Republic of Uzbekistan, the State Tax Committee, and other law enforcement agencies shall prevent attempts to obtain illegal information leading to the disclosure of deposit secrecy regarding deposits of residents and non-residents and operations conducted on these deposits, in the manner established by law. Send suggestions for the document Listen to audio Get reference from document element 5. The Central Bank of the Republic of Uzbekistan, the Ministry of Justice, the Ministry of Finance, the State Customs Committee, and the State Tax Committee shall, within one month, align existing departmental regulatory documents and instructions with the requirements of this Decree. Send suggestions for the document Listen to audio Get reference from document element 6. Control over the implementation of this Decree shall be entrusted to the Prime Minister of the Republic of Uzbekistan O. Sultonov and the Chairman of the Central Bank of the Republic of Uzbekistan F. Mullažonov. Send suggestions for the document Listen to audio Get reference from document element President of the Republic of Uzbekistan I. KARIMOV Send suggestions for the document Listen to audio Get reference from document element Tashkent, Send suggestions for the document Listen to audio Get reference from document element September 23, 1998, Send suggestions for the document Listen to audio Get reference from document element No. PF-2079 (Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1998, No. 9, Article 193; National Database of Legislation Acts, 09.07.2020, No. 06/20/6021/1047)