Tashkent, Uzbekistan (UzDaily.com) -- Payment system operators and payment organizations must increase their authorized capital from 1 July 2024.

This is stipulated by the resolution of the President of Uzbekistan on measures to protect the rights of consumers of digital products (services) and strengthen the fight against offenses committed using digital technologies.

According to the document, the authorized capital of payment system operators should amount to 50 billion soums from 1 July 2024, and 10 billion soums for payment organizations.

Moreover, from 1 July 2025, payment organizations must increase their authorized capital to 20 billion soums.

The resolution states that from 1 July 2024, payment system operators and payment organizations can operate in Uzbekistan only in the form of joint-stock companies.