Uzbek Central Bank re-issues licenses to commercial banks

By  Trend

The Board of the Central Bank of Uzbekistan has abolished issuing licenses to commercial banks to conduct operations in foreign currency and all commercial banks of the country re-issued licenses that entitle them to conduct banking operations.

Previously, the regulator issued general licenses to commercial banks in accordance with the "Rules for issuing licenses to commercial banks for conducting operations in foreign currency," and on the basis of the Regulation "On the Procedure for Registration and Licensing of Banking Activities" - licenses authorizing the operations in the national currency.

In accordance with the president's decree "On Priority Measures for Liberalizing Currency Policy," the practice of issuing licenses to commercial banks for conducting operations in foreign currency has been canceled, operations of commercial banks with foreign currency are carried out on the basis of a license to conduct banking activities.

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