Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF UZBEKISTAN

of August 30, 2003 No. 530-II

About bank secrecy

(as amended on 28-06-2021)
Article 1. Purpose of this Law

The purpose of this Law is relations management in the field of obtaining, storages, protection, publications and provisions of the data which are bank secrecy.

Article 2. Legislation on bank secrecy

The legislation on bank secrecy consists of this Law and other acts of the legislation. If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation the Republic of Uzbekistan about bank secrecy then are applied rules of the international treaty.

Article 3. Bank secrecy

Bank secrecy are the data protected by bank:

about transactions, accounts and deposits of the clients (correspondents);

about the client (correspondent), received by bank in connection with rendering banking services to it;

about availability, nature and property value of the client (correspondent) who is stored in safes and premises of bank;

about the interbank transactions and transactions made at the request of the client (correspondent) or in its advantage;

about the client (correspondent) of other bank, become known in result of the circulation of the data which are bank secrecy between banks;

about participants of funded pension system, the size and movement of the amounts of pension contributions, pension accruals on individual accumulation retirement accounts of citizens.

Article 4. Third parties

All other persons, except bank, his client (correspondent) and the Central bank of the Republic of Uzbekistan are considered as the third parties.

Article 5. Disclosure of bank secrecy

Disclosure of bank secrecy publication through mass media, distribution or the message in oral or written form or different way of the data which are bank secrecy, finishing them to the third parties, direct or indirect provision to the third parties of opportunity for getting of such data including owing to violation of procedure for their storage by persons to which these data were entrusted or became known in connection with accomplishment of service duties by them or were provided in the procedure established by this Law is considered.

It is not considered disclosure of bank secrecy:

the message or provision by bank of the data which are bank secrecy, to the third parties in the cases provided by this Law and also to persons rendering to bank legal, accounting, auditor, information and consulting services provided that it is necessary for rendering this service and that these persons shall abstain from actions, the stipulated in Clause 6 these Laws;

exchange of the data which are bank secrecy between bodies of prosecutor's office, pretrial investigation, inquiry and the bodies performing operational search activities and also competent authorities of foreign states according to the procedure, stipulated by the legislation and international treaties of the Republic of Uzbekistan.

Article 6. Prohibition of disclosure of bank secrecy

Disclosure or use for personal reasons or for the benefit of the third parties of the data which are bank secrecy, to persons to whom these data were entrusted or became known in connection with accomplishment of service duties by them or were provided in the procedure established by this Law is forbidden.

Central Bank of the Republic of Uzbekistan has no right to disclose or provide the information which is bank secrecy, became to it known in connection with implementation of the tasks assigned to it by the law, except as specified, stipulated by the legislation.

Article 7. Protection of bank secrecy

The bank guarantees protection of the data which are bank secrecy.

To heads and other employees of bank disclosure of the data which are bank secrecy, entrusted them or became known in connection with accomplishment of service duties by them and also their use for personal reasons or for the benefit of the third parties, direct or indirect provision of possibility of such use is forbidden to the third parties, including owing to violation of procedure for their storage.

The head or other employee of bank after the termination of the employment contract with bank has no right to disclose the data which are bank secrecy which became known to it during work in bank.

The bank shall take the organizational and technical measures necessary for proper storage of the data which are bank secrecy.

The bank can report to court the data which are bank secrecy of the client (correspondent) in cases and in the limits necessary for protection of the rights and legitimate interests if the dispute arose between bank and the client (correspondent).

Article 8. Provision of the data which are bank secrecy

The data which are bank secrecy are provided to the client (correspondent), representatives authorized by him, and also other persons according to the procedure, established by this Law.

The information on transactions with money or other property which is bank secrecy, connected with counteraction of legalization of income gained from criminal activities, to financing of terrorism and financing of distribution of weapons of mass destruction is provided in specially authorized state body in cases and procedure, stipulated by the legislation.

The Audit Chamber of the Republic of Uzbekistan has the right to receive the data which are bank secrecy if these data are necessary for implementation of the tasks assigned to it.

The Ministry of Justice of the Republic of Uzbekistan has the right to receive the data on non-state non-profit organizations which are bank secrecy if these data are necessary for implementation of the tasks assigned to it in the sphere of control of compliance with law in their activities.

Central Bank of the Republic of Uzbekistan provides the information which is bank secrecy, on the clients according to the procedure, established by this Law.

Provision in accordance with the established procedure of credit information in credit bureaus is not violation of bank secrecy.

Article 9. Provision of the data which are bank secrecy, to bodies of prosecutor's office, pretrial investigation, inquiry and the bodies performing operational search activities

The data which are bank secrecy are provided from the sanction of the prosecutor:

to bodies of prosecutor's office, pretrial investigation and inquiry for the purpose of establishment of circumstances on the criminal cases which are in their production, and also ensuring collection of the caused damage or property attachment - under the motivated resolution of the investigator or investigator;

to the bodies performing operational search activities for the purpose of implementation of the tasks assigned to them on the cases of operational search production which are in their production - based on the motivated resolution approved by the head of the body performing operational search activities.

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