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Kyrgyz money transfer system starts working in Uzbekistan

Finance Materials 19 August 2019 12:49 (UTC +04:00)

Baku, Azerbaijan, Aug 19

By Fakhri Vakilov - Trend:

The Kyrgyz OJSC Aiyl Bank reports that the Bereke money transfer system has officially started working in Uzbekistan, Trend reports citing Kyrgyz media.

Today, Bereke system has become international, and this is a breakthrough for the entire banking system of Kyrgyzstan, the news report said.

Last year, Aiyl Bank OJSC and Joint-Stock Commercial Hamkor Bank, the leader in the international money transfer market of individuals in Uzbekistan, signed an agreement on introducing the Bereke money transfer system (MTS) in Uzbekistan.

The service will be provided in more than 200 branches and offices of Uzbekistan. Moreover, this service will become accessible and convenient for citizens living on the border of Uzbekistan and Kyrgyzstan, becoming one of the effective financial instruments for establishing market relations.

Users of the Bereke system can instantly send and receive money transfers of up to 1 million kyrgyz soms or the equivalent in other currencies and also transfer funds to the beneficiary's bank account or Elcard payment card.

Moreover, users can transfer money through any point of the branch network of partner banks of the Bereke system. They can receive a transfer at any branch of the partner bank, regardless of which branch the transfer was sent from.

JSCB Hamkor Bank has been operating in the banking services market of Uzbekistan since 1991. During this time, the bank has formed a large network of branches covering all 14 administrative regions of Uzbekistan. At present, Hamkor Bank has more than 200 service points, including 42 branches, 155 minibanks, and 18 payment acceptance points.

($1 = 69.80 Kyrgyz som on August 19)

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