Uzbekistan Set To Launch Seamless Real-Time Bank Transfers

2025-11-28 09:05:39

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, November 28. Uzbekistan plans to enable real-time transfers between citizens' bank accounts via the Instant Payment System by February 1, 2026, Trend reports via the Uzbek National Database of Legislation.

This initiative, outlined in a decree signed by President Shavkat Mirziyoyev, is part of a broader effort to foster the development of financial technology (fintech) by enhancing the functionality of the Instant Payment System and facilitating direct connections between individual users.

As part of the 2025–2026 fintech support program, the new system will enable users to conduct transfers from their bank accounts via mobile phone numbers.

Regulatory bodies have been tasked with establishing the necessary infrastructure for peer-to-peer (P2P) transfers within the Instant Payment System and ensuring that payment service providers can access these transactions through an OpenAPI framework.

Meanwhile, as of November 1, the Instant Payment System (IPS) of the Central Bank of Uzbekistan had processed 5.9 million transactions, amounting to 134.3 trillion soums (approximately $11.3 billion).

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