Tashkent, Uzbekistan, July 7
By Demir Azizov – Trend:
Commercial banks in Uzbekistan have imposed restrictions on the use of conversion cards starting from July 1.
In 2013, Uzbekistan stopped the sale of foreign currency to resident individuals. The country then introduced a mechanism for non-cash foreign currency sales, allowing converting Uzbek national currency in personal plastics card into foreign currency with its transfer to Visa or MasterCard Exchange cards.
Representatives of several major banks of Uzbekistan told Trend that starting from July 1 Uzbek citizens, who live abroad, will be able to withdraw only $300 per month from conversion cards in ATMs, as compared to the previously set limit of $100 per day.
In addition, the conversion cards will no longer be accepted by terminals of retail and wholesale trade enterprises in Turkey, China and the UAE.
It is still possible to pay for accommodation, food, treatment and education using the conversion cards outside of Uzbekistan.
Uzbekistan’s Central Bank was unavailable for comments on the issue.
In Uzbekistan, the conversion cards can be used to purchase air tickets or to transfer foreign currency to foreign bank accounts to pay for treatment or education.
The money on these cards can be withdrawn in the national currency.
Uzbekistan permits taking cash foreign currency in an amount equal to $2,000 abroad without a permit.
The country allows taking over $2,000 in foreign currency only with a permission of the Central Bank or authorized banks, while the foreign currency equal to $5,000 can be taken out of the country only with the Central Bank’s permission.