Central Bank Fixed P2P Error
On March 25, various reports circulated on social media stating that the Central Bank had abolished the requirement to specify the purpose in P2P transfers. Zamin.uz reported on this matter.
This situation caused confusion and debate among the public. In a statement given to Kun.uz, the Central Bank's press service clarified that a non-mandatory rule could not be abolished.
They emphasized that this requirement had always been voluntary. Additionally, the regulator specifically noted that this issue had been misinterpreted.
It should be recalled that in an official letter sent to banks and payment organizations on February 17, specifying the purpose of transfers was established as a mandatory requirement. A warning was issued that certain measures could be taken if this requirement was not met by March 1.
This led many to believe that the requirement would be strictly implemented. However, following public discussion and criticism, on March 5, the Central Bank's information service announced that this process had a technical nature.
It was stated that the 16 purpose parameters introduced for P2P transfers were exemplary, and banks or payment services could apply them voluntarily depending on the capabilities of their applications. Furthermore, some payment organizations and banks contacted the regulator for additional clarifications following this statement.
The Central Bank provided a clear answer, stating that the requirement was voluntary and could be implemented if desired or rejected otherwise. Following these explanations, opinions emerged on social media that the "requirement had been abolished."
In reality, it turned out that the discussion was not about abolishing a requirement, but rather about a procedure that had never been mandatory from the start. According to experts, such situations demonstrate how quickly misinformation and misinterpretation can spread.
Therefore, it is of great importance to rely solely on official sources for any news in the financial sector.
