Permission granted to purchase up to 500 dollars in foreign currency from banks without documents
Another convenience is being introduced in the banking sector of Uzbekistan. Citizens will now be able to purchase up to 500 US dollars in cash foreign currency from banks without presenting identity documents.
This innovation was developed at the initiative of the Ministry of Justice of the Republic of Uzbekistan and was established in a departmental document registered on May 8.
According to the new rules, the customer identification process is simplified up to a certain amount. Specifically, the requirement to provide a passport, ID card, or other identity document is abolished for transactions up to 500 US dollars.
Under the previous procedure, such relief only applied to transactions up to 100 dollars. Now, this limit is being increased fivefold.
Experts note that this change is aimed at making banking services more accessible, reducing excessive bureaucratic processes, and creating convenience for the population.
At the same time, requirements for full customer identification remain in place for higher amounts to ensure financial security.
This new procedure will come into effect after three months. Thereafter, citizens will be able to perform small foreign currency transactions at banks without documents.
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