President of Uzbekistan Islam Karimov signed law “On introduction of changes and amendments to some legislative acts of Uzbekistan directed at further strengthening reliable protection of private property, subjects of entrepreneurship and eliminating barriers for their speed development” on 20 August 2015.

Legislative Chamber of Oliy Majlis of Uzbekistan passed the law on 31 July 2015 and Senate approved it on 6 August 2015. The law came into force on 21 August 2015.

The document introduced changes to the law “On private banking and financial institutions and guarantees of their activities”.

According to changes, the planned inspection of the activities of the private banking and financial institutions, not related to financial and economic activities, cannot exceed 10 calendar days.