Uzbekistan has established a procedure for opening special bank accounts for entrepreneurs undergoing insolvency proceedings, according to the Ministry of Justice. The changes were introduced through a departmental document amending the regulations governing the opening, maintenance and closure of bank accounts. The document was officially registered on October 20.
The new procedure regulates how entrepreneurs' funds are managed during rehabilitation, external management and liquidation proceedings. Under the new regulations, a special bank account will be opened when rehabilitation, external management or liquidation proceedings are initiated against an entrepreneur.
Once these proceedings begin, all outgoing transactions from the entrepreneur's primary and secondary bank accounts will be suspended. Funds already held in these accounts, along with any money received subsequently, will be transferred to the special account. The procedure also establishes rules for handling payment demands previously placed on the entrepreneur's accounts.
Collection orders, decisions to freeze funds and other payment demands submitted to primary or secondary accounts will be returned to the issuing organizations or authorities without execution. Under the new system, funds held in the special bank account may only be accessed through payment instructions issued by the client or a court-appointed administrator.
According to the Ministry of Justice, the measures are intended to support the restoration of business operations for entrepreneurs experiencing financial difficulties or facing bankruptcy. The special account procedure forms part of the amendments to the existing regulations on bank account operations.
The registered document also introduces changes to banking services for individuals. Under the amended regulations, individuals will be able to obtain information about all their bank accounts from any bank. Previously, this information could only be obtained from the bank where the individual's primary account was opened. The amendments also authorize the use of a biometric passport for international travel as an identification document when opening bank accounts.
The changes follow a presidential decree dated May 6, 2026, which mandated the establishment of the Agency for Insolvency Cases under the Ministry of Justice. The decree also provides for the creation of regional branches of the agency. The agency is responsible for regulating and overseeing insolvency proceedings in Uzbekistan. Its responsibilities also include the full digitization of processes related to insolvency cases.