The draft decree of the President "On Measures for Cardinal Improvement of the System for Supporting Business Development and Improving Business Conditions" was published for discussion.

According to the document, control functions, unusual for commercial banks, will be abolished by transferring them to the relevant financial, tax, customs and other regulatory authorities.

In particular, once the decree adopted, the banks will not monitor movement of funds in foreign currency on export-import transactions of individuals and legal entities of Uzbekistan.

The commercial banks will also not monitor timely transfer of payments to the state budget revenues and conduct of operations on revenue accounts of the budget, as well as compliance with the established procedure for writing off funds from bank accounts of economic entities.

According to the draft decree, the banks will not follow the order of execution of payment orders of customers for transfer of funds to plastic cards or checks for the issuance of cash, if at the same time there are no payment documents for the transfer of mandatory payments.

The function to control targeted use by business entities of cash received from the cash desk of commercial banks will also be abolished.