Uzbekistan, Tashkent, Feb. 1 / Trend D. Azizov /
The Uzbek Central Bank has made an announcement of an improved procedure for selling foreign currency to the population of the republic from Feb. 1, 2013, the Central Bank said on Wednesday.
'A decision was made to spread the ethos of selling foreign currency by authorised banks in non-cash currency by transferring the national currency from a personal plastic bank card to foreign currency among all physical entities - residents of the Uzbek Republic from Feb. 1, 2013. This will be done by entering it on an international payment card to further simplify the procedure of foreign exchange transactions', the report said.
According to the Central Bank, these operations are now widely used by more than 20 authorised commercial banks of the country. Over 233,000 people are owners of international payment cards.
All Uzbek commercial banks joined the international SWIFT system which allows the conduct of interbank payments to take place in real time and are associate members of such prestigious international payment systems as VISA International, MasterCard amongst others.
The card holder can use the available funds at the bank account in almost all world countries at any currency accepted in this country, the report says.
Foreign currency will be sold to individuals in a non-cash way by the authorised banks and their branches in the regions, cities and districts in specially created conversion operation departments.
Individuals must submit to the following documents: proof of identity - passport, residence permit or military ID for servicemen; application for purchase of foreign currency in the prescribed form, personal plastic bank card in national currency with available of foreign currency on the bank account to the conversion operations department to purchase foreign currency.
Bank employees must conduct foreign exchange transactions by entering foreign currency on the international payment card of an individual's application as soon as possible.
At the same time, the purchase of foreign currency from the population and foreign citizens will be based on existing procedure in unlimited amounts through the exchange offices of authorised banks. These are located in the banks and their subsidiaries, customs bodies, airports, railway stations, hotels and other public places for the convenience of the population.
The bank emphasises that the foreign currency purchase-sale order regulates foreign exchange transactions only with individuals and does not apply to legal entities. The current procedure for obtaining foreign currency is preserved for current international transactions.