Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan is considering a proposal to ban the use of cash in real estate transactions, requiring all purchases and sales of housing to be conducted exclusively through non-cash payments via banking institutions.

The initiative was announced by First Deputy Chairman of the Tax Committee, Mubin Mirzayev, during the eighth plenary session of the Senate. He stated that the measure aims to reduce the shadow economy and increase transparency in financial operations.

Mirzayev noted that many countries are targeting a full transition to cashless payments by 2030. Uzbekistan is also moving in this direction, starting with high-value transactions such as real estate deals.

Currently, the majority of residential property transactions in the country are conducted in cash, Mirzayev added.

Under the new initiative, all settlements must go through banks, in full compliance with legal procedures and regulations.

The draft resolution has already been coordinated with relevant ministries and agencies and has been submitted to the Presidential Administration for review.