Regulatory Alerts1998-10-22 | 232Added · Updated
Procedure for Opening and Operating Foreign Currency Accounts by Commercial Banks
This regulation establishes the rules for commercial banks in Uzbekistan to open and operate foreign currency accounts for resident and non-resident legal entities and individuals. It mandates the compulsory crediting of export proceeds to resident legal entities' accounts, defines permissible sources of funds for deposits, and outlines authorized uses for withdrawals, including payments for international operations, dividends, and service expenses. The document also specifies procedures for non-residents operating through permanent establishments and participants in commodity exchanges.
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