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The Central Bank of Uzbekistan has adopted a resolution introducing sweeping changes to the rules governing foreign currency operations, with measures designed to reduce bureaucratic friction for businesses, extend new rights to foreign nationals, and bring all exchange activity — including mobile app transactions — under a single electronic monitoring system.
The resolution was originally adopted on 30 March 2026 and entered into force after being registered by the Ministry of Justice on 22 April.
An end to rejections over typos
One of the most immediately practical changes addresses a persistent frustration for corporate clients. Under the previous framework, orders to purchase foreign currency were routinely rejected when they contained minor technical or spelling errors, forcing companies to restart the process from scratch. The amended rules now allow customers to correct such errors without triggering an automatic rejection. The Central Bank said the change is intended to save meaningful time for entrepreneurs and to streamline corporate banking procedures.
All exchange operations to enter a unified digital registry
In a broader modernisation push, the regulator has made it mandatory for all currency exchange operations to be recorded in a unified electronic system. The requirement explicitly covers transactions conducted through mobile applications, closing a gap that had left a growing segment of retail exchange activity outside consolidated oversight. The Central Bank said the integration will allow it to monitor market trends more effectively and foster a more transparent exchange environment.
Cash withdrawals: individuals retain full access, companies face limits
The updated regulations also sharpen the rules around cash foreign currency withdrawals at bank counters. Individual account holders retain the right to withdraw funds without restriction. Legal entities, however, may only withdraw cash currency for specifically defined and documented purposes — a distinction that formalises tighter controls on corporate cash handling.
Expanded rights for individuals and foreign nationals
The resolution introduces several new conveniences for private users. All individuals, regardless of citizenship, may now transfer funds to one another via bank accounts for personal, non-commercial purposes. Foreign nationals living in or visiting Uzbekistan have additionally been granted the right to conduct internal currency operations in three specific areas: making contributions to charter funds, performing charitable donations, and handling inheritance matters.
Securities market paperwork cut
Participants in the capital market stand to benefit from a reduction in documentation requirements. Legal entities purchasing foreign currency to make payments on securities denominated in foreign currencies will no longer need to submit an extensive package of supporting documents; a single document confirming the issuance of the relevant securities will now serve as sufficient legal basis for the transaction.
Separately, foreign investors have been granted the right to freely repatriate funds obtained from the sale of securities on Uzbekistan’s domestic stock market upon request — a step the Central Bank framed as part of the broader effort to increase flexibility for market participants.