CB Payment Center to process Uzkart transactions

The Board of the Central Bank of Uzbekistan issued a resolution to introduce changes to regulation on activities of inter-bank retail payment system UzKart.

Norma.uz said that the resolution set that Payment Center of the Central Bank of Uzbekistan will now process transactions of the Uzkart payment system. Earlier, Inter-bank payment center of National Bank of Uzbekistan for Foreign Economic Activity carried out this function.

The Payment Center of the Central Bank will sign agreements with commercial banks. Earlier, the inter-bank payment system of NBU signed agreements for opening of deposit accounts and open them corresponding accounts.

The commercial bank should transfer necessary funds to their deposit accounts within three working days. The commercial banks can suspend payment operations after notifying the payment center.