Tashkent, Uzbekistan (UzDaily.com) -- In order to further develop the capital market and create favorable conditions for investors, Resolution of the Cabinet of Ministers of the Republic of Uzbekistan approved the Regulations on the procedure for remote digital identification of securities market clients.

The Regulations define the procedure and conditions for remote digital identification of clients - individuals, including those authorized to carry out actions on behalf of a legal entity, by investment intermediaries, which creates the possibility of remotely opening a securities account.

For the purpose of digital identification of clients, verification and identification of their identity is carried out by an employee of investment intermediaries based on the information provided by the client or in real time by the information systems of investment intermediaries, excluding the human factor.

The introduction of the procedure will make it possible to introduce modern digital technologies into the work of investment intermediaries, as well as remotely conclude agreements with clients and open depository accounts.

Similar mechanisms exist in countries with developed capital markets such as the USA, Germany, Great Britain, the Republic of Korea and others.

In the Republic of Uzbekistan, until now, the procedure for digital identification of clients has been introduced only in the activities of commercial banks.

In general, the introduction of remote digital identification is the next step in the consistent development of the capital market, aimed at further stimulating public participation in the stock market, creating favorable conditions for citizens to participate in trading through the introduction of modern digital technologies.