As part of the project for a new instruction on the procedure for working with cash funds in the banking system, the Central Bank has proposed that information about the upcoming issuance of new banknotes and coins, including their characteristics, must be published in the media no later than one week before they enter circulation.
According to the document submitted for public discussion, the design of the new currency signs will be approved by a decision of the Central Bank board after agreement with the Kengash of the Oliy Majlis Senate. This same decision determines the issuance deadlines, as well as the dates when information about the new banknotes and coins will be disclosed.
After the official approval of the banknotes and coins, the Central Bank is obliged to provide territorial divisions and commercial banks with information about the security features and characteristics of these signs, as well as to give recommendations on organizing the initial release.
Requirements for the design and content of currency signs
The draft establishes strict requirements for the appearance of currency signs. Banknotes and coins must necessarily feature a digital denomination, the name of the issuer—the Central Bank of the Republic of Uzbekistan, the year of design approval, and one of the state symbols. Special anti-counterfeiting elements are also provided.
For banknotes, it is additionally required to indicate the denomination in words, as well as the series, number, a statement that they must be accepted at face value, and a warning about liability for counterfeiting. The design must reflect the specifics of Uzbekistan, allowing for the placement of images related to the country's history, achievements, nature, as well as national and cultural values.
In particular, the depiction of people born in the country who have made significant contributions to world science is permitted. If any buildings or structures are depicted on the currency sign, their names must also be indicated on it. All inscriptions must be made in the state language using Latin script.
Furthermore, the draft specifies a requirement for materials: banknotes and coins must be made from raw materials that are safe for human health.
Organization of cash circulation
In addition to the rules for new currency signs, the document regulates the entire process of cash circulation. The Central Bank assumes responsibility for issuing banknotes and coins, ensuring their timely delivery to banks, and guaranteeing a constant supply of sufficient quantities of various denominations in circulation.
Territorial departments of the Central Bank must monitor the state of cash circulation in the regions and guarantee banks the availability of the necessary volume of cash. Commercial banks, for their part, are obliged to analyze operations regarding the receipt and disbursement of cash, forecast future needs, and provide clients with funds available in their accounts. To do this, banks must prepare monthly forecasts of cash turnover.
If a need arises, funds between banks will be redistributed through the Central Bank's software complex called the 'Electronic Field of Cash Money'. The draft also enshrines norms for forming cash reserves, the procedure for transporting them between banks and territorial departments of the Central Bank, as well as the procedure for destroying banknotes that have become worn out or unfit for transactions.
Suggestions and comments regarding this draft are accepted until August 31, 2026.