PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of September 23, 1998 No. UP-2079

About measures for stimulation of household deposits in foreign currency

For the purpose of ensuring further liberalization of the republican foreign exchange market, increase in interest of citizens in opening of currency deposits, development of modern types of the banking services corresponding to the international practice:

1. Ceased to be valid

2. Ceased to be valid according to the Presidential decree of the Republic of Uzbekistan of 08.07.2020 No. UP-6021

3. Recommend to commercial banks of the republic:

provide necessary guarantees to investors on safety and unconditional return of deposits in freely convertible currency and payment of receivable percent in contribution currency;

implement new progressive scale of deposit interest rates in freely convertible currency of physical persons on mutually advantageous conditions;

provide strict observance of bank secrecy on private deposits, transactions on them according to the current legislation;

organize carrying out necessary explanatory work and promotion activities for the purpose of bringing to the population appeal and advantage of opening of deposits in freely convertible currency.

4. To prosecutor's office of the Republic of Uzbekistan, the State Tax Committee and other law enforcement agencies to stop in the procedure for attempt of unreasonable receipt of information on deposits of residents and nonresidents established by the law and to transactions on them breaking confidentiality of deposits.

5. To Central Bank, the Ministry of Justice, the Ministry of Finance, the State Customs Committee, the State Tax Committee of the Republic of Uzbekistan to bring the existing departmental regulations and instructions into accord with requirements of this Decree in a month.

6. To impose control over the implementation of this Decree on the Prime Minister of the Republic of Uzbekistan Sultanov U. T. and Chairman of the Central bank of the Republic of Uzbekistan Mullazhanov F. M.

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