Regulatory Alerts2018-04-28 | 16/9Added · Updated
Regulation on the Procedure for Carrying Out Currency Exchange Operations with Individuals in Commercial Banks
The Central Bank of Uzbekistan approved a regulation establishing the procedures for commercial banks to conduct currency exchange operations with individuals. The rules define required channels such as exchange offices, cash desks, and automated branches, and mandate the display of buy/sell rates. Transactions exceeding 500 basic calculated amounts require identity verification and documentation. The regulation also details operational requirements for non-cash sales, the use of specialized software programs, and the registration and staffing standards for currency exchange offices.
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