Uzbekistan plans to ban cash payments in real estate transactions

At the eighth plenary session of the Senate, Mubin Mirzayev, First Deputy Chairman of the Tax Committee, announced that the initiative proposes transitioning all housing purchase and sale transactions exclusively to non-cash payments through banks.

“Many countries aim to fully adopt cashless payments by 2030. We also intend to shift large-scale transactions to a cashless format, starting with real estate operations. At present, most property purchases are conducted in cash. Under the new regulations, payments will be carried out solely through banks and in a legal manner,” said Mirzayev during the Senate session.

He emphasized that this measure is aimed at combating the shadow economy. The draft resolution has already been approved by all relevant ministries and agencies and has been forwarded to the Presidential Administration for further consideration.