New financial requirements for private employment agencies

According to the Migration Agency of the Republic of Uzbekistan, the activities of private employment agencies in the country will be monitored based on new, strict financial guarantees. This was reported by Zamin.uz.

This regulation is aimed at ensuring the safety of citizens, protecting their rights and interests, as well as ensuring transparency in the employment system. According to the new requirements, before starting operations, a private employment agency must place an amount equivalent to 4,000 times the minimum wage in a special deposit account at a commercial bank.

This amount is kept as a reserve to protect the material interests of citizens. If the agency commits a violation or fails to fulfill its obligations, these funds will be used to compensate the citizens' losses.

The funds in the deposit account are under strict control, and the agency cannot spend them without the consent of the Migration Agency. If the funds are used without permission, they must be fully restored within the specified period.

These funds are held based on an agreement between the bank, the Migration Agency, and the private employment agency. The agreement clearly defines the rights and obligations of the parties.

If a private employment agency harms the interests of citizens or violates legal requirements, the Migration Agency submits a request to the bank. The bank then withdraws the necessary funds from the deposit and directs them to the Migration Fund.

This mechanism guarantees the protection of citizens from fraud and illegal activities. The main purpose of this regulation is to make the activities of private employment agencies lawful and responsible, protect citizens wishing to work abroad, and strengthen control in the sector.

Source: zamin.uz.