An expanded meeting of the Republican Commission for Monetary-Credit Policy of Uzbekistan was held at the Central Bank.
Members of the Committee discussed the execution of the Presidential resolutions concerning the improvement of money supply, uninterrupted provision of cash for withdrawals from the deposit accounts in banks, further development of the plastic cards based clearing system, timely payment for the cotton harvest, and a number of other issues.
The Chairman of the Commission Rayzulla Mullajonov presided at the meeting.
As a result of work carried out to date, the supply of cash to the cash desks of the banks increased by 50% compared to same period of the previous year, including an increase in the cash revenues from retail activity of business entities of 55.2%.
All-round support is being provided to the development of the system of non-cash payments; modern types of banking services are being widely integrated into practice. Today, over 3.5 million plastic cards are in use in Uzbekistan. About 16,200 ATMs and plastic card terminals have been installed at retail trade points and other objects of the services sphere.
At the same time, as indicated by the results of the analysis carried out by the Commission and the reports of the heads of regional commissions, measures being taken in this direction do not correspond to the requirements set by the Government in the regions of Jizzakh, Namangan, Kashkadarya, and Surkhandarya.
The heads of commercial banks reported on the results of monitoring of the issuance of cash to depositors.
The heads of regional commissions, tax inspections, commercial banks of Uzbekistan and Head Territorial Departments of the Central Bank were commissioned to ensure the implementation of the necessary measures and meeting of the requirements outlined in the Presidential resolutions.
It was specifically noted that September will be an especially important period, as it corresponds to the cotton harvesting season, which is why measures need to be taken to ensure timely clearing of the accounts and provision of timely payments to the harvesters of cotton as emphasized in the Presidential Resolution "On organizational measures to ensure timely and high quality harvesting of raw cotton in the 2007 harvesting season" of 29 August 2007.
For the purpose of creating additional conveniences for the harvesters, the heads of regional commissions were assigned to work with the responsible agencies and organize mobile trade on spots and ensure the provision of the goods for daily necessities to them.