Regulatory Alerts2009-03-16 | 7/2Added · Updated
Resolution of the Board of the Central Bank of the Republic of Uzbekistan on Approval of the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan
The Board of the Central Bank of the Republic of Uzbekistan approved the Instruction governing the procedures for opening, re-registering, and closing bank accounts in national and foreign currencies. This resolution explicitly repeals five prior decisions from 2001, 2003, 2007, and 2008 regarding bank account regulations. It establishes specific requirements for resident legal entities, individual entrepreneurs, and budget-funded institutions to open demand deposit, savings, time deposit, and other accounts, mandating the submission of applications, signature cards, and identity documents. The regulation also permits remote account opening for businesses during state registration if FATF identification conditions are met and prohibits banks from charging fees for tax payments by small business subjects.