Starting August 9, individuals can purchase foreign currency in cash from Uzbek banks without presenting identification documents for amounts of up to $500, up from the previous limit of $100.

According to Uzbekistan’s Ministry of Justice, amendments have been introduced to the internal control rules governing the prevention of money laundering and terrorist financing.

The new regulations establish updated thresholds for transactions conducted without opening a bank account, with the limit set at 175 million soums, compared with the previous figure of 206 million soums.

Banks are now required to provide expanded information about the senders and recipients of transfers starting from 25 basic accounting units (BAU), equivalent to 10.3 million BAU.

The new rules also introduce tracking of card numbers for payments and cross-border cash withdrawals.

For clients under the age of 16, movements of funds exceeding 40 basic accounting units (BAU), or 16.48 million BAU, over a two-day period are considered suspicious.

Transfers exceeding 1,000 BRV, equivalent to 412 million soums, to countries monitored by the Financial Action Task Force (FATF) are also classified as suspicious transactions.

Banks are required to analyze such transactions within 10 business days. The review must include verification of the sources of funds and an assessment of the business reputation of the parties involved.