Regulation on Requirements for Collection Services Organized by Commercial Banks

The Regulation on Requirements for Collection Services Organized by Commercial Banks was developed in accordance with the Laws of the Republic of Uzbekistan "On the Central Bank" and "On Banks and Banking Activity," as well as the Decree of our President dated October 30, 2018, No. PF-5564 "On Further Liberalization of Trade in Commodity Markets and Development of Competition."

The Regulation was developed with the aim of establishing collection services by organizing alternative collection services by commercial banks, relying on advanced foreign experience, and ensuring the integrity and inviolability of cash and other valuables.

This document sets forth requirements for monitoring compliance with requirements for collection service staff, special motor vehicles, buildings and structures for carrying out collection service activities, and the organization of collection services.

At the same time, in order to simplify requirements for commercial banks to organize alternative collection services, the Regulation sets forth requirements that:

• in cases where commercial banks do not have the opportunity to use service weapons when organizing collection services, employees of enterprises and organizations subordinate to ministries and agencies that have the right to use them in accordance with legislation may be attracted on a contractual basis;

• commercial banks may perform this service without obtaining a document from the category of documents granting permission (license, permit) to carry out collection service activities.

The Regulation on Requirements for Collection Services Organized by Commercial Banks entered into force on June 30, 2020.