OREANDA-NEWS. February 08, 2013. Central Bank states that on the basis of deep study of domestic and foreign experience improved procedure of foreign currency trade to the population of Uzbekistan will be introduced.

This procedure envisages expansion of applying the methods positively proved in the country and widely used in international practice to perform currency-exchange operations for individual persons in cashless form by way of transferring foreign currency to the international payment card.

These operations are carried out in Uzbekistan since 1994, and at the moment they are broadly applied in over 20 authorized commercial banks of Uzbekistan, and holders of international payment cards are more than 233.000 people.

All commercial banks of Uzbekistan joined to international system SWIFT which allows to perform interbank payments in real time, and are also members of international payment system as VISA International, MasterCard and others.

International experience of applying cashless payment cards decisively testifies about advantages which first of all consists of that card holder can use available money in his bank account almost in all countries of the world to purchase and pay for services in the currency of the corresponding country. Moreover, payments settlement is guaranteed by leading, universally recognized international payment centers.

Alongside, using international payment cards, unlike cash money, guarantees safety of money, safe access, so as even in case of loss of payment card the money will stay in bank account and access to it is available only for owners.

Taking this into account and with an aim to further simplify procedures of currency trading it is decided to disseminate from February 1, 2013 to all individual persons-residents of the Republic of Uzbekistan mechanism of foreign currency trade by authorized banks in cashless form by way of transferring national currency from personal plastic card to foreign currency and direct to international payment card.

Foreign currency trade to individual persons in cashless form will be carried out by authorized banks and their branches in regions, cities, and districts in specially established departments of conversion operations equipped with all necessary technical facilities for operative and quality service to population.

Individual persons who want to get foreign currency have to present following documents to the conversion operations departments:
- ID - passport, residence permit or military registration card for military servicemen;
- Application to purchase foreign currency in fixed form;
- Personal plastic bank card in national currency with enough money in bank account to purchase foreign currency;

Person-in-charge of the bank operatively and in a short time of period should perform currency-exchange operation with transferring foreign currency to international payment cards of individual person-applicant with which all payments abroad will be carried out without any issue.

Purchase of foreign currency from population of Uzbekistan and foreign citizens will be realized on the basis of valid procedure in non-lim ited size through exchanges offices of authorized banks which for the comfort of the population are functioning in banks, their branches, customs offices, railway stations, hotels and other public places.

Procedure of foreign currency trade regulates currency-exchange operations only with individual persons and is not disseminated to juridical persons who still can follow current procedure of obtaining foreign currency to perform present international operations.

For more detailed information address to Central bank of the Republic of Uzbekistan through "trust line": (8 800) 200-00-44, (8 371) 212-60-18.