Uzbekistan, Russia to sign an agreement on integration of national payment card systems

Central banks of Uzbekistan and Russia will sign an agreement on the integration of national payment card systems, the press service of the Central Bank of the Republic reported following the results of a meeting of the Sub-Commission on interbank cooperation between the countries, which was recently held in Moscow.

Integration of national payment card systems implies that citizens are able to conduct operations at ATMs in two states.

“During the event, the parties discussed a wide range of issues covering cooperation in the areas of interbank cooperation development, national payment systems, banking supervision and regulation, including consolidated cross-border banking supervision, improving financial affordability, as well as personnel training,” the Central Bank of Uzbekistan noted.

The parties agreed to work out a memorandum of understanding between central banks of the two countries in the field of banking supervision, which will promote close cooperation and exchange of experience.

In order to organize the work on intersystem integration of the national payment card systems of Russia and Uzbekistan, and to bring together approaches to regulation, supervision in the field of payment systems, an agreement was reached on the elaboration of an cooperation agreement in this direction.

The parties also signed an agreement on cooperation between the Central Bank of Russia and the Central Bank of Uzbekistan in the field of personnel training.