Turnover on plastic cards increases 24.2 per cent in Uzbekistan
Uzbekistan, Tashkent, Jan. 29 / Trend D.Azizov /.
Money turnover on plastic cards has increased by 24.2 per cent up to 12.658 trillion soums in Uzbekistan in 2012 compared to the previous year, the Central Bank of Uzbekistan said.
Plastic cards for payments in local currency are currently offered by 21 commercial banks in Uzbekistan. As of early 2013, the number of plastic cards issued by the country's banks amounted to 9.502 million compared to 8.409 million in the previous year (a 13 per cent increase). The total number of payment terminals in retail and service outlets hit 112.700 units, ATMs and kiosks - 1.420 million.
The greatest number of plastic cards was issued by Agrobank in 2012 at 1.952 million. The National Bank for Foreign Economic Activity issued 1.558 million units, while the People's Bank was 1.44 million units.
More than 9.466 million plastic cards are owned by individuals, 24.810 by legal entities, whereas 11.920 by individual entrepreneurs.
The intensive growth of the settlement system through plastic cards started in Uzbekistan in 2004, when the government adopted a policy to encourage development of non-cash payments and reduction of non-bank cash money turnover.
Reportedly, in Uzbekistan enterprises producing smart cards and payment terminals are exempt from payment of import duties on imported raw materials, expendable and component materials, software and licenses required for production of plastic cards and smart equipment.
Tax on profits derived from the volume of services paid by plastic cards was reduced by 10 per cent for service businesses (excluding commercial banks).
The official exchange rate is 1998.82 sum / $1 on January 29.