The Cabinet of Ministers of the Russian Federation has granted permission for citizens of Uzbekistan to remotely open accounts in Russian banks. This decision was reported by TASS, citing a government order. The move comes as part of efforts to streamline financial transactions between Uzbekistan and Russia.
On October 17, Russian Prime Minister Mikhail Mishustin authorized a list of 25 countries whose citizens will have the opportunity to undergo remote identification for financial transactions in Russia. Notably, Uzbekistan, along with countries such as Kazakhstan, Kyrgyzstan, Tajikistan, Belarus, Azerbaijan, Armenia, and Moldova, is included in this list.
The government order specifies that "foreign banks and other foreign financial organizations registered in these foreign countries (territories)" are eligible to handle the identification process for foreign citizens or legal entities, as well as their representatives, on behalf of Russian credit institutions, securities market participants, investment platform operators, investment fund management companies, mutual investment funds, and non-state pension funds.
This development builds upon previous measures implemented in July to provide foreign citizens with easier access to the Russian financial market. These measures granted Russian credit institutions the authority to remotely open accounts for foreign individuals and companies. To facilitate this process, banks are required to establish agreements with foreign financial institutions responsible for verifying customer identities. Once this step is completed, foreign nationals will be able to conveniently open accounts or make deposits in Russian banks through remote means.
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