Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank of Uzbekistan opposes the introduction of mandatory electronic invoices for transfers between individuals’ banking cards (p2p). This was stated by the head of the Central Bank Mamarizo Nurmuratov.

The head of the regulator noted the negative reaction to the introduction of the new order, although this was not reported in the media. After the decree was published, the Central Bank assessed it negatively, as did the Tax Committee and the Ministry of Economic Development.

Nurmatov noted that from 1 May this procedure will not be applied. Nurmuratov stressed that the Central Bank did not find out about the ultimate goal of the new requirement.

To receive information about p2p transfers, the relevant provision must be accepted. The regulator will check it for compliance with constitutional and legislative norms on the protection of personal data and banking secrecy.

If the principles are not followed, the Central Bank will not approve its use in practice. Nurmuratov pointed out that without the consent of the regulator, it cannot be transferred to banks.

The requirement to issue electronic invoices for transfers between individuals was introduced by presidential decree in February. The new order applies to all p2p transactions, regardless of the size of the commission charged.

The Ministry of Economy and Finance announced plans to reduce the cost of sending an invoice from the current 270-450 soums and simplify the process. In particular, the Tax Committee planned to launch complex services for sending electronic invoices for 1 sum.