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31 Jan 2013

Central Bank of the Republic of Uzbekistan informs that beginning from the 1st of February 2013 on the basis of profound research of local and foreign experience, the enhanced order of purchase and sale of foreign currency is introduced to the population of the Republic. 
The given order creates widening use of positively recommended itself in the Republic and widely used in international practice of the method of realization of currency exchange operations for individuals in non-cash form with putting the foreign currency on international payment card.
These operations are taking place from 1994 in Uzbekistan, and presently they are widely used more than by 20 authorized commercial banks of the Republic, and the users of international payment cards are more than 233 thousand people.
All commercial banks of Uzbekistan are associated members of such authoritative international payment systems as “VISA International”, “MasterCard” and they are connected to international “SWIFT” system, allowing to perform interbank payments on-line.
International experience of using of non-cash payment cards convincingly proves their advantages, which first of all means that owner of the card can use the available balance in his own currency banking account practically all over the world for purchase of goods and payment for the services in any receivable currency in this country. In this case, the accomplishment of computation is guaranteed by leading generally recognized international payment centers.
Along with this the usage of international payment cards as opposed to cash on hand, it  guarantees the safety of funds, safety of access to them, even in case of lost of payment card, the funds are available in the banking account and only their owners have access to them.
Taking into account above mentioned and with the aim of further simplification of procedure of currency exchange operations it was determined to spread the mechanism of sale of foreign currency for all physical parties – non-residents of the Republic beginning from the 1st of February 2013, by authorized banks in non-cash form by transferring national currency from personal plastic banking card to foreign currency with acceptance of this currency to international payment card.
The sale of foreign currency to physical parties in non-cash form will be performed by authorized banks and their branches in regions, cities and districts in specially divisions for conversional operations for this kind of issue, equipped with all necessary technical equipment for operative and qualitative servicing of population.

For the purchase of foreign currency for physical parties it is necessary to provide the following documents for conversional operations division.
1. Documents certifying the personality – passport, residence permit or military ticket for serviceman
2. Application for the purchase of foreign currency in established form
3. Personal plastic banking card in national currency with availability in banking account all necessary funds for purchase of foreign currency.
Responsible employees of the bank operatively and for the short period of time have to accomplish currency exchange operations with acceptance of foreign currency to international payment card of physical party – applicant, so that all payments abroad will be performed without limitations from this card.
As regards of the purchase of foreign currency from the population of the Republic and foreigners, it will be implemented by established order in unlimited sizes through exchange offices of authorized banks, which are situated in the buildings of the banks and the branches, customs stations, airports, railway terminal, hotels and other public places for the comfort of the population.
Implementing order of purchase and sale of foreign currency regulates currency exchange operations only for physical parties from the 1st of February 2013 and does not spread to legal parties for which the order of purchase of foreign currency for current international operations retains active.
For additional information you can contact to Central Bank of the Republic of Uzbekistan by the following “hot-line” telephone numbers: (8 800) 200 00 44, (8 371) 212 60 18

The source: Central Bank of the Republic of Uzbekistan.

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