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Uzbekistan reveals damage from processing center failure

Business Materials 25 October 2018 17:50 (UTC +04:00)

Baku, Azerbaijan, Oct. 25

Trend:

The state budget of Uzbekistan did not receive 27-30 billion soums within three days of failure in the UzCard National Processing Center, which occurred back in September, Uzbek media reported referring to First Deputy Minister of Economy Mubin Mirzayev.

"UzCard's daily turnover of payments is about 180 billion soums. Five percent of this amount is paid to the budget, which makes 9 billion soums per day. For three days, the budget did not receive 27-30 billion soums," he said.

Aside from that, Mirzayev said, there's also material and moral damage, which is difficult to calculate.

In order to prevent such cases, the National Interbank Processing Center will be established in accordance with a presidential decree adopted shortly after the incident.

From July 1, 2020, all transactions in the country, including with international payment systems, should be carried out directly through the NIPC.

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