Regulatory Alerts2020-09-29 | 18/10Added · Updated
Resolution of the Board of the Central Bank of the Republic of Uzbekistan on Amendments and Additions to the Regulation on the Procedure for Carrying Out Electronic Payments through the Interbank Payment System
The Central Bank of Uzbekistan amends the Regulation on the Procedure for Carrying Out Electronic Payments through the Interbank Payment System by updating terminology, replacing references to electronic payments with payments and payment systems, and redefining key entities such as the Accounting Center and Information Processing Main Center. The resolution introduces a new Chapter VII establishing the Quick Payment System for continuous 24/7 interbank settlements, specifying connection requirements, liquidity limits, clearing procedures, and fund reservation rules. It also updates accounting entries for initiating and beneficiary banks, modifies licensing and notification processes for bank participation, and removes obsolete appendices and provisions regarding commercial bank account statements.
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