New rules regulating currency activities in Uzbekistan have been developed.

A draft of new rules regulating currency activities has been developed to make operations within Uzbekistan's financial system more transparent and efficient. Zamin.uz reported on this.

Based on this document, plans are being made to adapt currency exchange, money transfers, and banking activities to modern requirements. The draft proposes using the more general term "banks" instead of "commercial banks," and introduces more detailed explanations regarding non-trade money transfers between individuals.

The new regulations will strengthen cooperation between banks and the Central Bank, creating opportunities to conduct currency swaps and derivative operations in accordance with international standards. At the same time, a procedure will be introduced for banks to submit data on their currency operations into the Central Bank's special information system.

Facilities are also provided for foreign investors and entrepreneurs, simplifying the process of paying income from securities and repatriating funds to their home countries. In currency exchange operations with non-resident individuals, it is required to confirm the legality of the source of funds.

Furthermore, standards regarding working with foreign currency in cash, accepting banknotes, and reissuing them into circulation have been reviewed. These changes will serve to develop the financial market infrastructure and organize work in the currency sector using modern methods.

The new rules are aimed at creating a favorable environment for economic participants and strengthening confidence in currency operations. As a result, the country's economic security will increase, and cooperation terms for foreign investors will become more understandable and convenient.

All these measures ensure the stability of the financial system and align with the long-term development strategy.