Tashkent, Uzbekistan (UzDaily.com) -- On 19 September 2019, the Legislative Chamber of the Oliy Majlis considered in the second reading the draft law of the Republic of Uzbekistan “On Payments and Payment Systems”.

This draft law was developed in accordance with the resolution of the President of the Republic of Uzbekistan “On measures for the development of the national payment system”.

The draft law introduces a number of standards for the requirements of payment systems in general and their components, the procedure for supervision and monitoring of payment systems, licensing of payment system operators and payment organizations, requirements for ensuring security and protection of information in payment systems, and the procedure for identifying owners of electronic money.

In connection with the adoption of this law, it is planned to repeal the Law of the Republic of Uzbekistan “On electronic payments” and the 12th article of the Law of the Republic of Uzbekistan “On amendments and additions to some legislative Acts of the Republic of Uzbekistan in connection with the improvement of legislation on counteracting the legalization of proceeds from crime and the financing of terrorism. ”

Following the discussion, the bill was adopted by the deputies of the Legislative Chamber.