Central Bank explains the reason why international money transfer systems stopped working

The Central Bank of Uzbekistan explained why the international money transfer systems stopped working on holidays.

According to the press service of the regulator, problems with functioning of the system of international money transfers in the New Year period can be observed in connection with holidays in foreign countries. 

Announcements to the population about possible failures in the activity of international money transfers by banks were publicized in advance, the CB said.

“It should be noted that it has become a common practice observed at the end of each year that international money transfers are not carried out during the New Year holidays,” the regulator noted.

The Central Bank also stated that a number of banks, with the widespread use of modern information technologies and by expanding the scope of services provided, have launched various types of online services for the implementation of international money transfers, which enable them to be used remotely at any time of the day via mobile applications.