Wednesday, 14 April 2021 11:28 GMT

Uzbekistan to allow citizens to open accounts in foreign banks


(MENAFN - Trend News Agency ) Baku, Azerbaijan, July 2

By Fikret Dolukhanov – Trend:

Citizens of Uzbekistan will be able to open and use accounts in foreign banks, the draft presidential decree 'On Currency Regulation and Currency Control', published on the portal for discussion of regulatory legal acts in Uzbekistan read.

The draft decree was developed by the Central Bank of Uzbekistan.

The document also notes that import into Uzbekistan of foreign and national currency cash, securities in an amount equal to or not exceeding the equivalent of $10,000, can be carried out by residents and non-residents without restrictions.

Export exceeding the established amount by non-residents is carried out on the basis of a passenger customs declaration filled in at the entrance to Uzbekistan, in which the amount of foreign currency in cash is indicated not less than the amount of foreign cash withdrawn.

Prizewinners or participants of competitions, contests and olympiads organized in the country in the established order may export the currency exceeding the established amount on the basis of a document confirming the legality of receiving cash foreign currency.

Meanwhile, import and export to/from Uzbekistan by individuals of foreign and national currency cash, securities in the total amount exceeding the equivalent of $5,000, is subject to mandatory written declaration in writing, the document read.

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