The Central Bank of Uzbekistan has made changes to the regulations governing bank accounts of business owners undergoing bankruptcy proceedings. Special accounts will now be created for such entrepreneurs, allowing control over funds during rehabilitation, external management, or company liquidation.
In accordance with the updated norms, all transactions on primary and supplementary accounts are temporarily suspended, and funds are transferred to this new special account. Access to these funds is possible only based on a payment order from the client themselves or the appointed judicial manager.
These regulatory steps are aimed at optimizing banking processes and supporting entrepreneurs facing financial difficulties by providing them with the opportunity to maintain financial control and resume their activities.
The changes also affect ordinary citizens. Now, any citizen can request information about all their bank accounts in any bank, not just the one where the main account is held. Furthermore, when opening an account, it is now possible to use a biometric passport for international travel.
Additionally, it should be noted that the procedure for blocking taxpayers' accounts in Uzbekistan has been adjusted: if an entrepreneur disagrees with the decision of the tax authority, they have the right to file an objection, which the court must review within three days.