The Central Bank of Uzbekistan has drafted updated regulations for its special legal regime in financial services. As reported by Spot.uz, the document will replace the current regulatory sandbox rules adopted in 2022.
The main change affects the regime’s architecture. Participants will be divided into three tracks based on product type. The innovation track targets approaches new to the market. The acceleration track is designed for foreign financial models launching in Uzbekistan for the first time. The technological partnership track will allow banks to test IT solutions to improve existing services.
Testing timelines depend on the chosen track. Acceleration gets 12 months with a possible six-month extension. The standard three-year period remains for the other tracks.
Data protection as a filter
The regulator is tightening infrastructure requirements for participants. When applying, companies must provide information on cybersecurity measures, personal data protection, and bank secrecy.
A lack of technical infrastructure to ensure confidentiality will be direct grounds for denying entry to the sandbox. If an information security incident or data leak occurs during testing, the Central Bank will revoke the participant’s special status. Projects will also be excluded if they show no activity for six months after launch.
Interaction with the Central Bank will move entirely to a dedicated electronic platform, which will handle applications and monitoring. The review period for candidates remains 40 working days, but the regulator will notify applicants of its decision in one day instead of three.
The Central Bank is shifting focus from simply testing ideas to infrastructure reliability: fintech startups will have to prove their technical maturity before launching pilots.
Public discussion of the draft will run until September 26, 2026.