RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of August 5, 2005 No. PP-147

About guarantees of uninterrupted ensuring cash payments from deposit accounts in banks

Consider absolutely inadmissible the facts when commercial banks and their branches, raising funds of the population and business entities on deposits, involving them in turnover and gaining at the expense of it income of bank, actually building the wellbeing at the expense of investors, at the same time accurately do not fulfill the direct commitments before them, are indifferent to legal requests, to needs and needs of investors, moreover, abuse the provision in case of satisfaction of their requests, ignore their interests.

The similar facts take place and in activities of regional and city departments of the Central bank of the Republic of Uzbekistan and National Bank of foreign economic activity.

It must be kept in mind that the similar relations undermine confidence to banks, are the reason of reasonable discontent of investors, limit and do not stimulate attraction of available funds of the population, entrepreneurs and businessmen, business entities on deposits in commercial banks, do not promote reducing extra bank cash turnover, destabilize all system of currency circulation, cause significant economic damage to the country.

For the purpose of eradication of the specified shortcomings, further strengthening of cash currency circulation, reducing extra bank turnover of cash, ensuring uninterrupted issue by banks of cash from deposit accounts of business entities in banks:

1. Recognize the work which is carried out by commercial banks on stimulation of attraction of free money of the population and business entities into deposit accounts in banks and to implementation of free issue on the first demand of, cash from their accounts, unsatisfactory.

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