Document from CIS Legislation database © 2003-2024 SojuzPravoInform LLC

It is registered

Ministry of Justice

Republic of Uzbekistan

 On May 15, 2023 No. 3434

RESOLUTION OF BOARD OF CENTRAL BANK OF THE REPUBLIC OF UZBEKISTAN

of April 18, 2023 No. 8/4

About approval of the Regulations on procedure of supervision and observation of activities of operators of payment systems and payment institutes

According to the laws of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" and "About payments and payment systems" the Board of the Central bank of the Republic of Uzbekistan DECIDES:

1. Approve Regulations on procedure of supervision and observation of activities of operators of payment systems and payment institutes according to appendix.

2. This resolution is approved with the Comissioner for the President of the Republic of Uzbekistan on protection of the rights and legitimate interests of subjects of entrepreneurship and Chamber of Commerce and Industry of the Republic of Uzbekistan.

3. This resolution becomes effective after three months from the date of its official publication.

Chairman of the Central bank

M. B. Nurmuratov

 

Appendix

to the Resolution of Board of the Central bank of the Republic of Uzbekistan from 18 aprelya2023 years No. 8/4

Regulations on procedure of supervision and observation of activities of operators of payment systems and payment institutes

This Provision determines procedure the Central bank of the Republic of Uzbekistan (further - the Central bank) supervision and observation of activities of operators of payment systems and payment institutes.

Chapter 1. General provisions

1. In this Provision the following basic concepts are used:

the operator of payment system - the legal entity performing activities for ensuring functioning of payment system in the territory of the Republic of Uzbekistan;

payment institute - the legal entity, not being bank which is competent to perform activities for rendering payment services;

remote supervision - the supervision type based on the analysis of the data represented by operators of payment systems and payment institutes and (or) received from their information systems.

2. This Provision is applied to operators of the payment systems and payment institutes having the license granted by the Central bank.

3. Central Bank when implementing supervision of activities of operators of payment systems and payment institutes:

requests and receives the information connected with functioning of payment systems, including containing personal data from operators of payment systems and payment institutes;

determines forms and terms of provision by operators of payment systems and payment institutes of reports on functioning of payment systems, and also technique of creation of reports;

analyzes information on functioning of payment systems provided by operators of payment systems and payment institutes;

carries out inspection inspections of activities of operators of payment systems and payment institutes;

applies measures and sanctions against operators of payment systems and payment institutes in case of violation of requirements of the legislation on payments and payment systems.

4. Central Bank at least once a year publishes information on activities of operators of payment systems and payment institutes on the official website of the Central bank.

Chapter 2. Information provided by operators of payment systems and payment institutes

5. Central Bank for the purpose of implementation of supervision and observation of activities of operators of payment systems and payment institutes receives and analyzes the data on activities of operators of payment systems and the payment services rendered by payment institutes specified in this Chapter.

Information is provided in the Central bank by operators of payment systems and payment institutes in electronic form and (or) goes automatically through information systems.

6. Information on quantity and transaction amount, performed following the results of day, daily automatically is transferred to the Central bank by operators of payment systems and payment institutes through information systems.

7. Operators of payment systems monthly no later than the 5th day of the next month shall provide the following information on activities of payment system in the Central bank:

quantity of the personified bank cards and programmable terminals;

data on the held testings when implementing activities of operators of payment systems if such testings were held;

the statement from the register of electronic terminals (E-POS).

8. Payment institutes monthly no later than the 5th day of the next month shall provide in the Central bank information on the payment services rendered by payment institute including on the number of users of payment services, payment agents and payment subagents, and also about their location.

9. The operator of payment system and payment institutes annually no later than April 1 of the next year shall provide the following annual information in the Central bank:

data on the testings held within last year when implementing activities of the operator of payment system or payment institutes if such testings were held;

data on threats for payment system and uninterrupted activities of payment institutes, about the revealed risks, about risks assessment, and also measures and effectiveness on their elimination.

10. The operator of payment system or payment institutes within three working days from the date of emergence of operational risk in the course of implementation of activities, observation of failures in information systems or modification of the activities connected with rendering payment services shall provide information describing these circumstances in the Central bank.

In information about arisen in the activities failures provided in the Central bank by the operator of payment system or payment institutes the reasons and duration of this failure, scales of impact of failure are specified payment services, participants and (or) users, measures for recovery of payment system, and also terms of elimination of the made mistakes and shortcomings for non-admission of repeating of similar cases in the future.

11. Operators of payment systems and payment institutes in case of planning of modification of the payment system or activities connected with rendering payment services shall provide in the Central bank the action plan on changes at least in thirty days prior to implementation of such changes.

Central Bank within thirty days considers the action plan on changes, estimates risks and if necessary can issue the corresponding recommendations and instructions.

12. The action plan on changes includes the description of the made changes, the planned actions, and also assessment of their impact on risk management.

When entering of payment system of changes by the operator into payment system changes and additions also shall be made to rules of payment system.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SoyuzPravoInform LLC.