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Finance 06/01/2014 Uzbekistan changes order of currency exchanges for individuals
Uzbekistan changes order of currency exchanges for individuals
Tashkent, Uzbekistan (UzDaily.com) -- Central Bank of Uzbekistan with its resolution introduced changes to the regulation on order of conducting currency exchange transactions of individuals with the authorized banks.

According to the changes, the exchange points at purchase of hard currency will have right to demand identification documents from the residents. If the transaction sum exceeds 100 sizes of minimal salary, the banks can request identification documents from non-residents (earlier the sum was equal to 1,000 sizes of minimal salary.

Norma.uz reported that at purchase of hard currency from individuals, equal to 100 sizes of minimal salary or higher, the exchange points should introduce corresponding records on transaction to electronic system.

At exchanging faulty hard currency to healthy currency, exchange of hard currency to banknotes of lower value, exchange of hard currency to other currency, the bank can request identification document both from the residents and non-residents, but the size of the transaction should be equal to 25 sizes of minimal salary (earlier, it was 100 sizes of minimal salary).

With other resolution, the Central Bank introduced changes and amendments to the regulation on qualification requirements to workers of the departments on conversion operation and exchange points of the authorized banks, their employment and rotation.

According to the document, the authorized bank should organize educational courses for the employees of these units at least once a year.

It also set other rules on rotation of employees of the conversation departments and exchange units of the authorized banks.

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