The statement said that commercial banks of Uzbekistan cooperate with many payment systems, which work with international remittances of individuals.

Inadequate ratio of the volume of operations to the size of own capital, as well as low ratings of some payment systems show that there are risks with implementation of their liabilities.

In order to minimize risks of local banks and population, the Central Bank of Uzbekistan introduced requirements to ensure safety of remittances of population.

In particular, the payment operators, which have no high credit rating, should make advanced payment, or place insurance deposits or provide bank guarantee.

The Central Bank said that local banks reached agreements with majority of payment systems’ operators to carry out transactions in line with new requirements so international remittances will be conducted in normal mode.

International remittance of individuals will be carried out without any limits and remittances will be issued in that currency, in which they were sent.