December 4, 2023
The requirements for the size of the authorized capital of payment system operators and payment organizations have been changed
On 30.11.2023 a Presidential Decree PD No. 381 “On measures to strengthen consumer protection of digital products (services) and combat offenses committed through digital technologies” was adopted. According to the document:
– from July 1, 2024, payment system operators and payment organizations will be able to establish and operate only in the form of a joint-stock company;
– starting from July 1, 2024, it amounts to 50 billion soums for payment system operators and 10 billion soums for payment organizations;
– from July 1, 2025, the minimum amount of authorized capital for payment organizations is 20 billion soums.
The state share in the authorized capital of the National Interbank Processing Center LLC is transferred to the State Asset Management Agency in full.
Functions in the field of regulation and development of e-commerce, organization of lotteries, and betting activities are transferred to the National Agency for Promising Projects.
In order to prevent theft and fraud promptly, the Central Bank is authorized to send mandatory instructions to commercial banks, payment system operators, and payment organizations on the temporary restriction of the use of bank cards, bank accounts and accounts on mobile applications for up to three days in case of questionable transactions related to bank cards.