The Central Bank of Uzbekistan has obliged banks and payment services to implement a new procedure for transfers between individuals: for each transaction, it is now necessary to indicate the purpose of the payment. Without filling in a special field, a card-to-card transfer cannot be made. The choice is made from 16 approved categories, including payment for goods and services, debt repayment, charity, utility payments, rent, education and medical expenses, transfers to relatives, gifts, and investments.
The regulator noted that the updates should be implemented in all mobile applications of banks and payment organizations. In addition, each company is obliged to provide a report on the work done to the Payment Systems Department by March 1, 2026. Failure to comply with the requirements will result in sanctions.
The Central Bank emphasized that the innovation is aimed at increasing the transparency of cash flows and reducing the share of the shadow economy. According to experts, this will allow automated systems to more accurately classify payments and provide additional control over the financial transactions of citizens.
