The Central Bank of Uzbekistan has enacted a new regulation designed to liberalise foreign exchange regulations across the country. Under the updated framework personal money transfers between individuals via bank accounts are now permitted regardless of citizenship.
Overseas citizens will also benefit from an expanded list of approved currency transactions. Foreigners are now authorised to invest funds into a local company’s share capital. They can also seamlessly execute charitable donations and process financial operations related to inheritance matters.
The legislative overhaul brings administrative relief to the corporate sector as well. Businesses seeking to purchase foreign currency will face less...