Central Bank Of Uzbekistan Tightens Licensing Rules For Payment Operators

2026-05-16 07:34:35

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, May 16. The Central Bank of the Republic of Uzbekistan has unveiled a new draft resolution aimed at overhauling the licensing framework for payment system operators and payment organizations, Trend reports via the bank.

The proposed amendments primarily focus on enhancing ownership transparency and strengthening control mechanisms within the country's expanding digital financial services sector. A key feature of the draft is the formal introduction of the "beneficial owner" concept into the regulatory framework, defining it as any individual or group of individuals who ultimately own or exercise factual control over a company's operations.

Additionally, the reform seeks to align Uzbekistan's national licensing protocols with global standards, specifically integrating the recommendations of the Financial Action Task Force (FATF).

According to the Central Bank, the initiative is designed to increase transparency across the financial market and reinforce existing mechanisms to mitigate risks related to money laundering and the financing of illicit activities.

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