The key facts

  • The Central Bank of Uzbekistan registered with the Ministry of Justice on October 19, 2026 a new version of the regulation on the 'regulatory sandbox' in the field of financial services, replacing the document from October 2022.
  • Three tracks have been introduced: 'innovation', 'acceleration' and 'technological partnership'; testing in the acceleration mode — up to 12 months with an extension of up to 6, in the others — up to 3 years.
  • Advertising of services tested in the 'sandbox' must indicate that the service is provided in test mode; non-residents will also be able to participate.

New 'sandbox' rules

The Central Bank of Uzbekistan approved an updated regulation on the special legal regime (the 'regulatory sandbox') in the field of financial services. As reported by Kun.uz and Spot.uz, the document was registered by the Ministry of Justice on October 19, 2026 under No. 3956 and published on Lex.uz. The new version replaces the regulation from October 2022 and was put up for public discussion in September. It clarifies the conditions of participation, requirements for participants and their obligations, as well as the procedure for reviewing applications.

Three testing tracks

Participants of the 'sandbox' will be divided into three tracks depending on the specifics of the services being tested. The innovation track is intended for services based on new, unconventional or previously unused approaches in the market: projects must eliminate inefficiencies or meet customer needs, bring 'concrete and tangible benefits' and expand financial inclusion. The acceleration track is designed for services that are new to the Uzbekistan market but have been tested or implemented in other countries; the applicant must demonstrate the possibility of scaling up if testing is successful. The technological partnership track will allow banks and other organizations to test technical solutions for improving financial services without violating current legislation.

Timeframes and procedure

Testing in the acceleration mode may last up to 12 months with the possibility of extension for a period of up to 6 months; for other areas, the standard term of 3 years remains. Applications will be accepted and reviewed through a special electronic platform, which will also be used for monitoring tests and exchanging data between the Central Bank and participants. The application review period remains the same — 40 working days, however, the Central Bank will notify applicants of its decision within one working day instead of three.

Consultations and requirements for applicants

Before submitting an application, companies will be able to receive a preliminary consultation: the working body of the Central Bank will organize it within 5 working days after the request. The consultation may include an analysis of the service model, a preliminary conclusion on whether the service falls within the 'sandbox' framework, discussion of risks (legal, technological, operational, consumer), threshold conditions of testing and required documents. The document package will need to include information on cybersecurity measures, information security, personal data protection and banking secrecy. The lack of technical capability to ensure cybersecurity and confidentiality may become grounds for refusal, as well as the inexpediency of the proposed changes to legislation.

Participation of non-residents and testing results

According to Kun.uz, non-resident legal entities will also be able to participate in the special regime — including as joint applicants. Companies whose activities are regulated by other state bodies, in addition to the Central Bank, will also be able to participate in the 'sandbox'. Upon completion of the regime, the company must report on the results of the project, attaching a list of legislative norms that may hinder further operation. For 'innovative' projects, the Central Bank will develop proposals for amendments to legislation; for 'acceleration' it will determine the timeframe for licensing and permitting procedures; technological partnership projects will receive a conclusion of no objections. Projects that have passed testing will be able to operate on the basis of a Central Bank decision until legislation is changed or a license is issued, while the total term of the regime and temporary operation must not exceed 3 years.

Exclusion of participants and advertising

The Central Bank will be able to exclude participants from the 'sandbox' in the absence of activity within 6 months after the launch of the project, as well as in the event of cybersecurity incidents resulting in the leakage or loss of confidential data. A separate requirement concerns consumers: as reported by Kun.uz, advertising and informational materials promoting a financial service under the special regime must indicate that the service is provided in test mode within the 'Regulatory Sandbox'.