Regulatory Alerts1998-10-22 | 231Added · Updated
Procedure for Commercial Banks to Maintain Accounts in the National Currency of the Republic of Uzbekistan for Non-Residents
The Central Bank of Uzbekistan establishes rules for commercial banks to open and maintain accounts in the national currency for non-resident legal entities, individuals, foreign banks, and permanent establishments. The regulation specifies permitted sources of funds for deposits, allowable uses for current expenses and operational costs, and restrictions on cash withdrawals and fund transfers. It mandates that foreign banks maintain 'loro' accounts for specific transactions and requires commercial banks to report account activity to the Central Bank. The document was registered in 1998 and ceased to have legal force on September 1, 2020.
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