On Measures to Further Expand the Internal Free Convertibility of the National Currency of the Republic of Uzbekistan

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09.07.2020

10.01.2018

04.11.2017

26.12.2016

01.10.2003

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15.01.2003

05.12.2000

27.06.1995

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Document lost its force 01.08.2020

[OKOZ:
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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]
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Finance / Currency Regulation. Precious Metals (Stones)] 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 of the President of the Republic of Uzbekistan Send suggestions for the document Listen to audio Get reference from document element ON MEASURES TO FURTHER EXPAND THE INTERNAL FREE CONVERTIBILITY OF THE NATIONAL CURRENCY OF THE REPUBLIC OF UZBEKISTAN Send suggestions for the document Listen to audio Get reference from document element LexUZ commentary This Decree is based on Decree No. PF-6021 of the President of the Republic of Uzbekistan dated July 8, 2020 "On introducing amendments to certain decrees of the President of the Republic of Uzbekistan, as well as on recognizing some of them as having lost their force," and loses its force on August 1, 2020. Send suggestions for the document Listen to audio Get reference from document element In order to create the necessary conditions for strengthening the national currency and ensuring its internal free convertibility, attracting foreign investment to the republic, and filling the consumer market:
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1. It is considered necessary to take additional measures to further liberalize operations at the Uzbekistan Republic Currency Exchange and to satisfy the demand of legal and physical persons for the free exchange of the national currency - the sum into freely convertible currency.
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   The Central Bank and authorized banks shall find additional resources to increase the volumes of free convertible currency for the exchange of cash sums, and shall direct at least 120 million US dollars for these purposes in the second half of 1995.

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(Para 2 lost its force in accordance with Decree No. PF-3276 of the President of the Republic of Uzbekistan dated April 16, 2003 - Information Bulletin of the Oliy Majlis, 2003, No. 6-7, Article 93)

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(Para 3 lost its force in accordance with Decree No. PF-3323 of the President of the Republic of Uzbekistan dated October 1, 2003 - Information Bulletin of the Oliy Majlis, 2003, No. 9-10, Article 165)

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(Para 4 lost its force based on Decree No. PF-5296 of the President of the Republic of Uzbekistan dated January 9, 2018 - National Database of Legislation, 10.01.2018, No. 06/18/5296/0534)

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(Para 5 lost its force in accordance with Decree No. PF-3276 of the President of the Republic of Uzbekistan dated April 16, 2003 - Information Bulletin of the Oliy Majlis, 2003, No. 6-7, Article 93)

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(Para 6 lost its force based on Decree No. PF-5228 of the President of the Republic of Uzbekistan dated November 3, 2017 - National Database of Legislation, 04.11.2017, No. 06/17/5228/0210) Send suggestions for the document Listen to audio Get reference from document element
7. The existing procedure for lending and refinancing debt funds in the form of freely convertible currency allocated by foreign banks, export-import agencies, and international financial organizations shall be preserved.
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Also, the existing procedure for repaying loans previously granted to enterprises and organizations in freely convertible currency shall be preserved.

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8. It is established that:

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— foreign currency purchased by authorized banks according to customers' requests and not used within fifteen working days must be resold unconditionally; (Second sub-paragraph of Para 8 in the edition of Decree No. PF-4891 of the President of the Republic of Uzbekistan dated December 20, 2016 - Collection of Legislation of the Republic of Uzbekistan, 2016, No. 51, Article 579) (Third sub-paragraph of Para 8 lost its force in accordance with Decree No. PF-3276 of the President of the Republic of Uzbekistan dated April 16, 2003 - Information Bulletin of the Oliy Majlis, 2003, No. 6-7, Article 93) Send suggestions for the document Listen to audio Get reference from document element
9. The Prosecutor's Office of the Republic of Uzbekistan and the State Tax Committee shall ensure regular control over the unconditional compliance of enterprises with the established procedure for carrying out export-import operations.
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10. The Ministry of Finance of the Republic of Uzbekistan and the Central Bank shall, within one week:
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— introduce relevant amendments to normative documents; Send suggestions for the document Listen to audio Get reference from document element — submit proposals to the Cabinet of Ministers in the third quarter of this year regarding the issuance and sale of short-term state bonds; Send suggestions for the document Listen to audio Get reference from document element — together with the Ministry of Foreign Economic Relations and the State Tax Committee, submit proposals to the Cabinet of Ministers regarding the review of export and import duties to encourage the production of finished products in the republic. Send suggestions for the document Listen to audio Get reference from document element
11. The Ministry of Finance and the Central Bank of the Republic of Uzbekistan shall, in order to further increase the volume of funds directed towards strengthening the national currency - the sum, submit proposals by January 1, 1996, regarding the transfer of the republic's gold and foreign exchange resources to the Central Bank.
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12. The appendix to Resolution No. 234 of the Cabinet of Ministers dated May 3, 1994 is recognized as having lost its force.
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13. The control over the execution of this Decree is entrusted to Deputy Prime Minister of the Republic of Uzbekistan B.S. Hamidov and Chairman of the Board of the Central Bank of the Republic of Uzbekistan F.M. Mullajonov.
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President of the Republic of Uzbekistan I. KARIMOV Send suggestions for the document Listen to audio Get reference from document element Tashkent city, Send suggestions for the document Listen to audio Get reference from document element June 27, 1995, Send suggestions for the document Listen to audio Get reference from document element No. PF-1193 (Information Bulletin of the Oliy Majlis of the Republic of Uzbekistan, 1995, No. 7-8, Article 155; 2003, No. 6-7, Article 93; 2003, No. 9-10, Article 165; Collection of Legislation of the Republic of Uzbekistan, 2000, No. 11, Article 171; 2003, No. 1-2, Article 3; 2016, No. 51, Article 579; National Database of Legislation, 04.11.2017, No. 06/17/5228/0210; 10.01.2018, No. 06/18/5296/0534)