Commission collection by sub agents banned in Uzbekstan
Tashkent, Uzbekistan, March 24
By Demir Azizov- Trend:
A ban has been introduced to stop paying agents for collection of fees from those using their services. This is in accordance with the decision of the Cabinet of the Ministers of Uzbekistan.
The government decree 'On Approval of the Regulations on the order of the subjects of business licensing procedures in banking' was published in the local media.
A paying agent receives fees from the general agent in accordance with the tariffs set out in the contract between the general and paying agents while providing a service. A paying agent is to be entitled to establish and charge payers any amount (margin) for their services, the document said.
The paying agents set their own commission fee level themselves until recently. In accordance with the country's legislation, the Central Bank of Uzbekistan registers the general payment system with a statutory fund equivalent to 200000 euros.
At present, the only registered agent of the payment agent system in the country is UzPaynet JV which has been in operation since 2005. Its co-founders are not named.
The services of more than 100 providers of various services are paid through UzPaynet LLP , including mobile operators Beeline, Perfectum Mobile, UCell, UzMobile and local telephony (branches of Uzbektelekom), Internet service providers Sharq Telekom, Uzonline, Skyline, long-distance and international telephone services Platinum Mobile and Platinum connect online, television UZDIGITAL TVand Stars TV and optic communication lines Ethernet (ISTV).
These services can be paid for at 25000 Paynet payment points throughout the country. Paynet points gather payments from more than two million people daily.
Translated by S.I.
Edited by S.M.