TASHKENT, Uzbekistan, November 4. The Central Bank of Uzbekistan (CBU) and the Commercial Law Development Program (CLDP) of the US Department of Commerce discussed integration of new payment systems into the Uzbek market and the improvement of the national legal framework for this purpose, Trend reports.
The news follows a meeting with representatives of the CLDP of the US Department of Commerce and the CBU.
During the meeting, the sides reviewed the work carried out by the CERT-CBU (Cyber Security Center of the Central Bank), in particular the introduction of software and technical solutions to ensure cyber security in banking and payment systems, the establishment of anti-fraud systems to prevent fraud related to bank cards, and targeted measures to strengthen the security of mobile applications.
Then, both parties agreed to establish an exchange of online experience in the fields of cyber security, financial technologies, and secure payment systems.
Meanwhile, Uzbekistan's National Interbank Processing Center (HUMO) and Korean BC Card signed an agreement on mutual integration of the two payment systems, which means that the cardholders will be able to make payments in South Korea and Uzbekistan with the convenience of exclusively using domestic cards.