Tashkent, Uzbekistan (UzDaily.com) -- As previously reported, from 1 October 2019, in accordance with international practice, a procedure was introduced for withdrawing funds from international payment cards through ATMs in the country exclusively in national currency - “soums”.

Resident individuals (citizens of the Republic of Uzbekistan) can freely withdraw foreign currency from international payment cards directly at the cash desks of commercial banks with the presentation of identification documents (civil passport or military ID).

In connection with the latest publications in some media about the collection of fees for cash withdrawals, the Central Bank reports the following.

In accordance with the Law of the Republic of Uzbekistan “On banks and banking activities”, a bank is a commercial organization and independently makes decisions on banking operations.

All transactions with international payment cards are carried out through international payment systems (Visa, Master Card, China Union Pay, etc.), which in turn take a commission for each transaction.

In addition, commercial banks have operating expenses related to the import, export, conversion, transportation of cash foreign currency, as well as other expenses.

In turn, banks, when conducting banking operations on the basis of available expenses, charge a commission in accordance with the rates approved by them.

It should be noted that as a result of reforms carried out in recent years in the banking system in the country, a competitive environment is developing between banks, which positively affects the availability of services and lower tariffs.

In particular, today the fee for withdrawing foreign currency cash from international payment cards at bank cash desks is in the range of 0.5 - 1% (in some banks without commission), which is significantly lower than the established tariffs (on average 2%) for a similar service in other CIS countries.

In order to create amenities for the population, all exchange points in the country are provided with appropriate terminals. In addition, throughout the country there are 633 automated currency exchange points operating in the 24/7 mode.

The Central Bank is ready to consider appeals and issues of both individuals and legal entities, as well as media representatives regarding banking operations and ongoing reforms in the banking sector.