RESOLUTION OF BOARD OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of February 24, 2018 No. 7/14

About approval of the Instruction about the organization of works on cash circulation by banks of the Republic of Uzbekistan

According to the Law of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" and the resolution of the President of the Republic of Uzbekistan of September 12, 2017 "About measures for further development and increase in banking system stability of the republic" the Board of the Central bank of the Republic of Uzbekistan DECIDES: No. PP-3270

1. Approve the Instruction about the organization of works on cash circulation by banks of the Republic of Uzbekistan according to appendix.

2. This resolution becomes effective from the date of its official publication.

Appendix

to the Resolution of Board of the Central bank of the Republic of Uzbekistan of February 24, 2018 No. 7/14

The instruction about the organization of works on cash circulation by banks of the Republic of Uzbekistan

This Instruction determines procedure for the organization of works on cash circulation by banks of the Republic of Uzbekistan.

Chapter 1. General provisions

1. Central Bank of the Republic of Uzbekistan for the purpose of forming in the territories of reserve of cash and storages of cash, unissued in the address, will organize reserve funds in Head departments of the Central bank of the Republic of Uzbekistan on the Republic of Karakalpakstan, areas and the city of Tashkent (further - Head departments).

2. Commercial banks and their branches (further - banks) without fail will organize turnover cash desks, and also reserve of cash for timely satisfaction of demand of clients in cash.

3. In this Instruction the following basic concepts are used:

cash - the banknotes and coins introduced into circulation by the Central bank of the Republic of Uzbekistan;

the address of cash - continuous movement of cash in the form of banknotes and coins when implementing calculations for goods and services, and also between the population, business entities and banks;

the maximum limit - the regulation setting the most upper limit of remaining balance of cash which can remain in turnover cash desks of Payment processing centers (further - payment processing center) of Head departments at the end of the day;

reserve fund of cash - the reserve of banknotes and coins organized in Head departments for the purpose of providing banks with necessary quantity of cash in the corresponding territory;

reserve of cash - the reserve of banknotes and coins organized in banks for the purpose of providing timely and complete satisfaction of demand of the population and business entities in cash;

receipt of cash - acceptance in cash desks of banks of cash in the form of banknotes and coins based on the relevant documents;

expense of cash - expense from cash desks of banks of cash in the form of banknotes and coins based on the relevant documents;

cash reinforcement - providing turnover cash desks of banks by cash of turnover cash desks of payment processing center of Head departments, and in case of need, from reserve funds;

cash symbols - character set, the sources of receipt and the purposes of expense of cash used in the analysis through cash desks of banks, and also in case of reflection of interbank movement of cash.

Chapter 2. Organization of cash circulation

4. Banks regularly study and analyze condition of cash circulation, and also provide timely requirements satisfaction of the population and business entities in cash.

5. Banks:

in case of operation analysis, executed in cash desks of bank, on receipt and expense of cash use the cash symbols approved by Board of the Central bank of the Republic of Uzbekistan;

conduct permanent monitoring of the cash arriving in cash desks of bank on branches, clients and sources of receipt;

will organize reserve of cash and in case of need use it;

take measures for ensuring necessary quantity of cash in cash desks of bank for requirements satisfaction of clients in cash.

6. Business entities annually within January, and the clients who opened new accounts - no later than the next month, fill in in duplicate the certificate of calculations for procedure and term of delivery in bank of cash cash revenue and to dates of receipt from cash desk of bank of cash for the salary and the payments equated to it, and also on establishment of the permitted limit of remaining balance of cash in the cash desk at the end of the day, given in appendix of 1 this Instruction, and represent it to the serving bank.

After filling with bank in coordination with the head of business entity of the specified certificate of calculations, one copy of this reference returns to business entity, and the second copy is stored separately for every year in department (at the ranking officer) cash circulation of bank.

Exchange of the specified certificate of calculations can be performed between business entity and bank electronically.

7. Banks based on the analysis of condition of cash circulation and indicators characterizing it can develop and make in local authorities of the government the offers directed to cash receipt of money in cash desks of bank, timely requirements satisfaction of the population and business entities in cash.

8. The task on the organization of works on cash circulation in the corresponding territory, and also coordination and to ordering of activities of banks in this sphere, by means of implementation of its monitoring is assigned to Head departments.

9. Head departments:

will organize works on cash circulation in the corresponding territory and provide its effective implementation;

study condition of currency circulation in the corresponding territory, generalize and analyze the indicators characterizing cash turnover of banks, and also condition of cash circulation, instruct on streamlining of cash circulation and elimination of the revealed offenses in activities of banks;

in case of need develop and submit for discussion of local authorities of public administration reasonable offers on cash receipt of money in cash desks of bank and payment at the scheduled time of cash money payments;

for the purpose of ensuring timely requirements satisfaction of the population and business entities in cash in the corresponding territory redistribute cash between banks.

Chapter 3. Establishment of limits of remaining balance of cash in turnover cash desks of payment processing center of Head departments and control of their observance

10. In the territory of the Republic of Uzbekistan for turnover cash desks of payment processing center of Head departments limits of remaining balance of cash shall be set.

11. Ceased to be valid.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info