Tashkent, Uzbekistan (UzDaily.com) -- It is proposed to determine a bank for issuing pensions and benefits in Uzbekistan on a tender basis. The Ministry of Finance of Uzbekistan published a draft presidential resolution “On measures to simplify the process of assigning state pensions to citizens and improving the system for issuing pensions and benefits to them”.

The document notes that the tender to determine the servicing banks for payments in all regions of the country of pensions and benefits for 2022-2024 will be held before 1 September 2021. The Ministry of Finance and the Central Bank will hold a tender. The tender will be held every three years.

It is expected that the presidential resolution from 13 March 2017 “On measures to further improve the mechanism for the payment of pensions and benefits” will become invalid after the adoption of this document. According to this resolution, the payment of pensions and benefits throughout Uzbekistan is carried out exclusively by the state-owned People’s Bank.