Central Bank confirms withdrawing foreign cash currency from ATMs will stop from October 1

The Central Bank of Uzbekistan has officially confirmed the information that from October 1, withdrawing cash foreign currency from ATMs will no longer be available.

According to the regulator’s press service, in order to create amenities and simplify the procedure for foreign exchange transactions, starting from late August, the practice of selling foreign currency in cash to resident-individuals through exchange offices of commercial banks was introduced.

“There are risks of suspicious transactions related to the legalization of criminal proceeds, in particular, withdrawal of foreign currency funds from the IPC of non-residents in the country by other persons,” the Central Bank said.

In accordance with the current legislation, all payments throughout the republic should be made in the national currency – “soum”, as well as taking into account international practice, from October 1 of this year, withdrawals from ATMs in the country will be carried out exclusively in the national currency.

“Resident-individuals have the right to withdraw cash from the IPC in foreign currency directly at the institutions of commercial banks without restrictions, with the presentation of relevant identification documents,” the CB added.