Uzbekistan revises accreditation procedure for foreign bank representative offices

The Board of the Central Bank has adopted a resolution titled “On Amendments and Additions to the Regulation on the Procedure for Accrediting Representative Offices of Foreign Banks in the Republic of Uzbekistan.”

Photo: KUN.UZ

Under the newly introduced changes, if, during the submission of documents for accreditation, it is found that the applicant has provided incomplete, inaccurate, or distorted information, the Central Bank will grant a minimum of five working days to correct the errors and supplement the documentation. During this time, the review process for the application will be suspended.

The updated regulation also clarifies that an application submitted to the Central Bank is officially registered on the day it is received, and the applicant bank will be notified of the application’s receipt either in writing or electronically.

If an application is submitted after working hours, or on a weekend or public holiday, the official date of submission is considered to be the next working day.

The document has been published in the National Legal Database and came into effect on May 7, 2025.

Prepared by: Дониёр Тухсинов

#Central Bank #legislation