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Finance 28/12/2013 CBU not regulate issues related to opening of foreign accounts by civil servants
CBU not regulate issues related to opening of foreign accounts by civil servants
Tashkent, Uzbekistan (UzDaily.com) -- Central Bank of Uzbekistan officially denied reports on existing of a financial commission, regulating opening of the banking accounts abroad by civil servants.

The press service of the regulator said that some internet website made reports on existence of the financial commission, which regulates order of opening of the banking accounts abroad by the civil servants.

Central Bank of Uzbekistan officially stated that there is no such commission, which regulates the order of opening of banking accounts abroad by the civil servants. It also said that the regulator has no prerogative to issue any permission to individuals, including civil servants, to open banking accounts abroad.

The bank said that the issue is regulated with article 16 of the law “On hard currency regulation”, which says individual residents of Uzbekistan, diplomatic missions and other offices of Uzbekistan, as well as representative office of Uzbekistan abroad, which do not carry out economic or commercial activities, can open accounts abroad during the stay in foreign country. After the end of their visit, the accounts abroad should be closed and balance of the accounts should be transferred to the accounts in Uzbekistan.

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