However, the Constitution stipulates that such a guarantee is provided by law. Such a law is the Law of the Republic of Uzbekistan "On Banking Secrecy", article 11 of which explicitly provides for the possibility of providing relevant information to the tax authorities on the issues of taxation of the bank's client in accordance with the legislation.

It is important to note that in accordance with articles 6 and 7 of the Law "On Regulatory Legal Acts", the legislation of the Republic of Uzbekistan is a system of regulatory legal acts. This system includes not only laws, but also decrees and resolutions of the President, resolutions of the Cabinet of Ministers, as well as other regulatory legal acts.

Article 134 of the Tax Code provides for information exchange between banks and tax authorities, and also establishes that the form and procedure for such exchange are approved by the Cabinet of Ministers.

Consequently, the draft resolution does not change the essence of bank secrecy, but only establishes the procedure for applying the norms already provided for by the Tax Code and the Law on Bank Secrecy.

In addition, the project meets the objectives set by Decree of the President of the Republic of Uzbekistan No. 246 dated December 10, 2025, aimed at reducing the share of the shadow economy.

As a follow-up to these measures, paragraph 17 of the roadmap approved by Decree of the President of the Republic of Uzbekistan No. 95 dated May 19, 2026, explicitly provides for the development of a procedure for submitting information to tax authorities when funds in the amount of 500 BGN or more are deposited into bank cards or electronic wallets of individuals during a calendar month, with the exception of transfers from close relatives.

Thus, we are not talking about free access to citizens' accounts, but about a legal and regulated procedure for the exchange of information in cases directly provided for by law. Ordinary transfers between citizens, including transfers to relatives, friends, acquaintances, debt repayment and household transactions, are not the purpose of this regulation.

The subject of regulation is cases when a personal bank card is actually used as an entrepreneur's cash register: payments are systematically accepted, significant turnover is generated, but the activity is not registered and taxes are not paid.

The state is obliged to protect the banking secrecy of citizens. But the state also has an obligation to protect bona fide taxpayers.

It is impossible to allow a situation where one entrepreneur works openly, keeps records and pays taxes, while another conducts the same activity through a personal card and gets an advantage due to non-payment of taxes.