Central Bank of Uzbekistan said that it is introducing improved order of sales of hard currency to population of Uzbekistan from 1 February 2013 after studying local and foreign experience.

New order envisages use of banking payment cards in conducting currency exchange operations, which is widely used in international practice, the Central Bank said.

From 1 February, all residents of Uzbekistan can exchange national currency to hard currency from their soum personal banking cards to international payment cards such as Visa or MasterCard.

Authorized commercial banks will exchange hard currency through their offices and branches, equipped with all necessary equipment for rendering quality service to population, the Central Bank said.

The regulator said that use of international payment cards will guarantee safety of money resources and there is no limit on use of banking cards abroad.

Central Bank said that individuals should submit passport or other identification document, application in set form, soums banking payment card and international banking payment card to carry out currency exchange operation.

The regulator said that authorized banks should transfer hard currency to banking cards of applicants in short term.

Foreign citizens can exchange hard currency without any limit at exchange points of commercial banks at airports, hotels, railway stations, customs posts, banks’ branches, etc. New rules are effective for individuals and legal entities will be able to exchange hard currency in line with set rules on conducting international operations, the bank said.

Central Bank of Uzbekistan underlined that currently, some 233,000 international banking payment cards were issued in the country.