Economics

The Central Bank has developed procedures for issuing new banknotes or coins.

This is a departmental regulation on the organization of cash circulation in the banking system, developed by the Central Bank.

The Central Bank has developed a procedure for introducing new banknotes or coins into circulation.

In Uzbekistan, a procedure for informing the public about the release of new banknotes or coins of a new sample at least a week before their release may be introduced. This is provided for in the draft departmental regulatory legal act on the organization of cash circulation in the banking system developed by the Central Bank.

According to the draft, the design of banknotes and coins of a new sample will be approved by a resolution of the Central Bank's board. This resolution will also determine the date of organization of their release, publication of information about new banknotes and their description in the media.

It is envisaged that information about the release of new banknotes or coins and their description will be published in the media at least a week before the release date.

The document stipulates that the design of banknotes and coins will be developed jointly by the Central Bank and "Davlat belgisi" LLC. In exceptional cases, a survey of the population on the design of banknotes may also be conducted.

The design of banknotes must reflect the characteristics of Uzbekistan, contain one of the state symbols, a nominal value, the name of the Central Bank and elements of protection against counterfeiting.

Also, banknotes and coins can be dedicated to a specific theme, depicting the history of Uzbekistan, people born on the territory of the country and contributing to the development of world science, the achievements of independent Uzbekistan, nature and national values.

It should be noted that the document has not yet announced the release of new banknotes or coins. It establishes the procedure that will be applied in the event of the issuance of new banknotes in the future.

The document is currently considered a draft.

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