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“Kapitalbank” JSCB offers a distinctive opportunity to legal entities to save time and use the “Urgent Conversion” service, which enables to quickly purchase foreign exchange for mutual settlements with foreign partners.

Currently, legal entities have the opportunity to purchase foreign exchange for various purposes established by current legislation, including for the implementation of mutual settlements under foreign trade contracts. Herewith, “Kapitalbank” JSCB can offer legal entities the following methods of purchasing foreign exchange currency:

Option I

By placing a customer’s application for a trading session of the Uzbek Republican Currency Exchange with a gradual passage of the following procedures:

On the first business day, the customer submits an application for the purchase of foreign exchange on the currency exchange in one of the following forms:

  • in paper form in the established form, signed and certified by the seal of the company with the attachment of copies of documents to verify the targeted nature of the operation;
  • in electronic form, using the appropriate functionality “Application for the purchase of foreign exchange” in the Internet-Bank Client (iBK) system with attached scanned forms of documents to verify the targeted nature of the transaction.

On the second business day, the bank issues an order for exchange trading and credits the converted foreign exchange to the customer’s account.

On the third business day, the transfer of the converted amount is processed for mutual settlements with foreign partners:

  • in the form of an application (in paper form) for remittance, signed and certified by the seal of the company;
  • in electronic form, sent to the bank via the Internet Bank Client (iBK) system, using the “SWIFT” functionality

As a result, the entire cycle of the operation undergoes within three business days!

Option II

The “Urgent conversion” service stipulates the following procedures through the Internet-Bank Client (iBK) system by converting funds from the bank’s foreign exchange position.

The submission by the customer of an application in electronic form through the corresponding functionality “Application for the purchase of foreign exchange” in the Internet Bank Client (iBK) system, with attached scanned forms of documents to verify the targeted nature of the operation.

Further, within one hour upon the moment the customer submits the application, the bank verifies the documents, then makes conversion from the bank’s foreign exchange position and credits the converted amount in foreign exchange to the customer’s account.

Having received confirmation of the funds’ remittance, on the same day the customer, using the SWIFT functionality of the Internet Bank Client (iBK) system, formalizes a transfer of the converted amount to pay for obligations under foreign trade operations.

As a result, the whole cycle undergoes within one business day!

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