Central Bank: No source verification required for deposit withdrawals

The Central Bank of Uzbekistan has addressed reports that commercial banks are requesting customers to verify the source of their funds when withdrawing from their deposits. The regulator clarified that no such requirement exists under current legislation and urged banking service consumers to report such incidents to the Consumer Rights Protection Service.

On February 20, several Telegram channels reported that some commercial banks had started asking customers to confirm the source of their deposit funds before withdrawal.

In response, the Central Bank clarified, "According to the current legislation, individuals are not required to provide information about the source of funds when withdrawing money from their deposit accounts."

Additionally, the Central Bank reaffirmed its commitment to monitoring issues related to financial services, addressing complaints from individuals and businesses, and taking necessary measures to resolve them.

The regulator advised citizens to report any instances where they are asked to provide source verification when withdrawing deposit funds. Complaints can be submitted to the Consumer Rights Protection Service of the Central Bank via the following phone numbers: 71 212−60−94, 71 212−73−62.

Furthermore, concerns or suggestions regarding violations of consumer rights by banks, microfinance institutions, or payment organizations can be sent to the Central Bank via email at [email protected].

Prepared by: Дониёр Тухсинов

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