Baku, Azerbaijan, Sept. 20
By Fikret Dolukhanov – Trend:
By Jan. 1, 2020, Uzbekistan will establish the National Interbank Processing Center (NIPC), which will interact between banks participating in local and international card transactions, the press service of the Central Bank of Uzbekistan (CBU) said.
The NIPC will be created in accordance with the presidential decree "On Measures for Development of the National Payment System" of Sept. 19, 2018.
Uzbek president instructed the CBU to ensure before July 1, 2019, creation of a full data processing center for functioning of the NIPC, an interbank payment system and the central bank's clearing center.
From July 1, 2020, all processing centers in the country, including international payment systems, will function through a single gateway of the NIPC.
The president instructed the Association of Banks of Uzbekistan, together with commercial banks to ensure integration and mutual servicing of bank cards of existing processing centers with the NIPC.
Tariffs of banks for provision of retail payment services will be established in accordance with international experience without administrative intervention to ensure cost recovery of banks and promote competition.
Until Jan. 1, 2019, the CBU should develop a draft law on payments and payment systems.
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