Starting April 1, Uzbekistan is implementing new regulations that require all major transactions involving real estate and automobiles to be conducted exclusively in cashless form through escrow accounts. This move is part of a broader reform aimed at protecting citizens' interests and whitening the economy. In commercial banks with state participation, the fee for managing an escrow account in housing purchases cannot exceed 50% of the base calculation value (BCV), currently set at 206,000 soums. For car purchase and sale transactions, the commission is even lower—no more than 25% of the BCV, or up to 103,000 soums.

In private banks, the cost of these services will be regulated by their own tariff policies. The rules also emphasize transparency in distributing expenses between transaction participants. If the buyer and seller are clients of the same financial institution, the commission is charged only once. If accounts are opened in different banks, each bank is entitled to withhold no more than half of the established limit. The system guarantees full security of funds: if a transaction fails or is canceled for any reason, the money from the escrow account is fully refunded to the buyer.

The introduction of mandatory cashless payments and the escrow system is a key component of extensive reforms to whiten the economy and safeguard consumer rights. It is worth noting that from April, cashless procedures become mandatory for any goods and services valued over 25 million soums, as well as for transactions involving cars manufactured less than 10 years ago. By July 1, 2026, the escrow mechanism is planned to become a mandatory standard for all housing construction in the republic.

Source: podrobno.uz