During a plenary session, deputies of the lower house of parliament explored the draft law “On amendments to article 177 of the Criminal Code and article 170 of the Administrative Responsibility Code of the Republic of Uzbekistan”, Kun.uz correspondent reports.

This document envisages clarifying the penalties for illegal acquisition or sale of currency, as well as increasing the size of fines for these deeds.

“Despite the ongoing reforms aimed at introducing market mechanisms for currency regulation, still the illegal acquisition and sale of foreign currency are often revealed in the country. For example, studies conducted by the prosecutor’s office show a rapid increase in this category of crimes. During only 9 months of this year, 2,069 facts of illegal circulation of foreign currency have been revealed (for the same period in 2017 - 1,656),” the lower house of parliament noted.

According to the deputies, adoption of this law will enhance the effectiveness of crime prevention in this category, increase the volume of purchases of foreign exchange offices from the population, reduce the level of the shadow economy and eliminate the channels of uncontrolled foreign exchange.

It should be recalled that in September last year, liberalization of monetary policy was introduced in Uzbekistan. In particular, since September 5, individuals have received the right to sell currency in exchange offices.

Purchase of currency is carried out in the conversion departments of commercial banks with crediting it to international payment cards and that can be used abroad without any restrictions. Also, the population can convert sums into dollars by means of special mobile applications.