Cash Handling and Cash Collection Procedures in Banks Improved
📄 The Resolution of the Board of the Central Bank “On Introducing Amendments and Additions to the Instruction on the Organization of Cash Operations and the Collection of Cash and Other Valuables in Commercial Banks” was registered with the Ministry of Justice on October 9, 2026, under registration No. 3028-11.
The amendments are primarily aimed at aligning the existing cash handling regulations with the legislation governing the introduction of Islamic banking in Uzbekistan.
In conventional banking, income is often expressed in the form of interest, whereas Islamic finance may involve profits, markups, or other forms of income. Accordingly, certain provisions of the Instruction have been expanded to include the concept of “other income” alongside “accrued interest.” In addition, the phrase “deposits and accrued interest thereon” has been replaced with the broader term “funds.”
This allows the requirements governing cash operations to apply to Islamic financing practices as well as conventional banking services.
The document also clarifies the procedures for transporting cash and other valuables. In particular:
The interregional transportation of foreign currency cash and other valuables between commercial banks and their branches shall be carried out on the basis of directives issued by the Central Bank.
Transportation within a region shall be organized on the basis of directives issued by the relevant structural units of cash collection services.
Directives issued by the Central Bank for the transportation of cash and other valuables shall be generated automatically through the “Electronic Directives” software system and transmitted electronically to the sending and receiving bank units.
In addition, commercial banks that have established cash collection services in accordance with the prescribed requirements are permitted to transport cash and other valuables independently between their own units.
@Furthermore, the escort of vehicles transporting cash and other valuables between regions shall be carried out under agreements concluded with the Road Traffic Safety Service of the Public Security Department of the Ministry of Internal Affairs.
These amendments primarily regulate banks’ internal cash operations and cash collection procedures. They are intended to adapt cash handling requirements to the specific features of Islamic banking, clearly define responsibilities for transporting cash and valuables, and facilitate the transition to electronic exchange of relevant directives.