Uzbekistan bans sale of foreign currency cash by banks since February 1
2013-01-31 16:27:13
Banks will be allowed to sell non-cash foreign currency to resident private persons in Uzbekistan since 1 February 2013, reports Bank.uz.
The central bank of Uzbekistan explains such measure with the purpose of further strengthening of national currency status as the sole lawful payment instrument in Uzbekistan.
The ban on sale of foreign currency cash is also aimed to streamline its circulation and to comply with the international standards of money laundering combat and to improve the foreign currency exchange mechanisms.
Non-cash foreign currency will be sold to residents upon issuance of the international credit card.
Exchange offices will only buy foreign currency and will sell it to non-resident individuals within the scope of the previous exchange transaction.