The document was adopted for further improvement of the system on money circulation, stimulation of cashless settlement development and decreasing non-banking cash turnover, creation of favourable conditions for payment with banking payment cards and improving quality of service through introduction of new banking technologies.

The resolution said, effective mechanism on protection of banking payment cards and cashless settlement system were created in Uzbekistan.

Each payment card owner has personal identification number (PIN), which grants right to manage money at the account. At wrong entrance, the card automatically blocked.

Single payment system UzKart is functioning to carry out settlements with payment cards with chip modules and four-stage data encryption system, which allows to avoid forgery and unapproved access, the document said.

The resolution said: “Single National Processing Center processes all transactions with banking cards, which protects clients and sellers.”

Uzbek President entrusted Central Bank and commercial banks to ensure firm systematic control over adherence to set requirements on high-level of protection of banking payment cards, POS-terminals, ATMs and other special equipment. They should also adopt additional measures on avoiding forgery at transactions with use of banking payment cards.

The document also approved forecast parameters on additional expansion of special equipment network on cashless settlement with use of banking payment cards in 2010-2011.

Uzbek President approved proposal of the state structures and financial institutions on expanding list of retail trade and service outlets, which carry out money transactions with population and must have POS-terminals.

Islam Karimov entrusted the Karakalpakstan Ministers’ Council, administrations of regions, cities and districts in cooperation with interested state and business entities, as well as commercial banks adopt measures on supplying retail trade and service outlets with POS-terminals.

The resolution said businesses, which do not install POS-terminals, will be considered that they will violated rules on use of cash machines, trade and service rules and punished in line with the legislation of Uzbekistan.

State Tax Committee will ensure full adherence of retail trade and service outlets to rules on use of POS-terminals in line with the legislation.

The resolution extended tax and customs preferences, which were envisaged with presidential resolution “On additional measures on developing system on cashless settlement with use of baking payment cards” from 3 August 2006, resolution of the Cabinet “On measures for further developing system on settlement with use of banking payment cards” from 24 September 2004 and presidential resolution “On measures on further improving capitalization of banks and boosting their participation of investment processes on modernization of economy” from 12 July 2007.