Uzbekistan allows withdrawing cash from banking cards
Baku, Azerbaijan, March 24
By Fikret Dolukhanov – Trend:
Uzbekistan will allow withdrawing cash funds in foreign currency from international banking cards beginning April 1, a decree of Uzbek President Shavkat Mirziyoyev reads.
Currently, Uzbeks are allowed to withdraw cash funds from their cards only outside Uzbekistan. They also aren’t allowed to purchase cash in Uzbek banks.
The document, however, mentions not the direct sale of cash funds to individuals, but rather possibility of its withdrawal from cards via ATMs. Individuals will be able to withdraw funds only in certain limits set by commercial banks.
Automated 24/7 currency exchange points will also be opened in Uzbekistan until Nov. 1, especially in popular tourism locations. Currently, most of the exchange points are located in the branch offices of banks and work from 09:00 until 18:00.
Uzbekistan allowed natural persons to sell currency to banks at market rates on Sep. 5, 2017. Earlier, the banks had been accepting the money only at the official exchange rates, which were over two times lower than the market rates.