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News about fees: events, facts and developments on tafs uz.

4 stories

Click CEO and banks commented on card-to-card transfer fees

At a roundtable at the Central Bank, Click founder Ulugbek Rustamov explained that a P2P transfer chain involves a bank, a processing system and a payment organization, and that a 'zero fee' does not mean no costs — the organization covers them at its own expense, often as a marketing cost. Banks can offer free transfers thanks to other revenue sources, while payment organizations rely mainly on fees.

2 min read

Uzbekistan suspends fee accruals if the management company fails to report in the Mening uyim system

Construction Minister Sherzod Khidoyatov announced that in the absence of quarterly reports in the Mening uyim system, mandatory fee accruals are suspended without recalculation. Deputy Minister Ozoda Juraeva reported the exclusion of 45 management organizations from the registry for violations and spoke about the 100-point rating system.

3 min read

Uzbekistan Central Bank hosts discussion on Uzcard and Humo fees: economist points to payment systems' profits

On October 5, the Central Bank of Uzbekistan held a round table on fees in banking and payment services with the participation of commercial banks, payment organizations, payment systems and the media. The discussion covered how Uzcard and Humo tariffs are formed and how their growth affects banks and consumers. Economist Otabek Bakirov stated that over the past year and a half to two years the benefits have been concentrated with payment systems, and called on the regulator to strengthen competition rather than set tariffs administratively.

2 min read