Uzbekistan

With Uzbekistan’s national currency depreciating for 15 consecutive weeks and the United States dollar setting new records almost every 2 weeks, here is an overview of the 7 financial institutions in Uzbekistan that offer online foreign currency deposits: Learnbank – the Comfort Deposit can be opened remotely and requires a …

Uzbekistan has embarked on an effort to ensure adequately-trained professionals are available for Uzbek businesses following a severe shortage of such personnel in the country. To accomplish this, Uzbekistan must ensure that there are competent teachers in each educational area and that existing enterprises are invested in the educational process. …

Uzbekistan and Belarus have come to an agreement on the mutual training of IT specialists. Under the agreement, students will study the first half of the four-year course in Uzbekistan and the second half in Belarus, with graduates awarded a degree in both countries. Courses will be taught in Russian …

Uzbek President Shavkat Mirziyoyev has signed a decree designed to attract foreign specialists and financing into Uzbekistan in sectors in which the country currently has a gap. This measure is part of a response to address systemic flaws and problems that hinder the flow of qualified labor and financial resources …

Uzbekistan hosted the second DigiGirlz High Tech Camp educational program, which is aimed at increasing the potential of girls and attracting them to the technology sector. The program, held at the Inha University in Tashkent, provided young girls (aged 12-17) with the chance to familiarize themselves with the technology sector …

The first FinTech lab in Uzbekistan was announced at the ‘Open Innovations in the Banking Section’ session of the International Press Club. The FinTech lab will focus on facilitating the creation and testing of new FinTech technologies and products as well as foster an atmosphere of cooperation between technology suppliers, …

The government of Tajikistan has decreed that all ministries, departments, state-owned enterprises and institutions that provide payment services must acquire equipment for accepting non-cash payments by April 1, 2019. The measure is being taken as part of a larger effort to encourage cashless payments in the country. The total number …

PAYMO has announced that it is developing a system to unite providers and consumers of financial services in one information space as part of an effort to provide consumers with a range of financial services in a faster, more efficient manner. The new financial marketplace will offer the following financial …

Armenia has become only the second country in the world (after Singapore) to launch the Payment Express system. The system, also known as PayX, is a single payment system that uses QR codes, facilitating easier cooperation between financial institutions and payment systems. In order to use the contactless payment system, …

National operators from Uzbekistan and Kazakhstan are joining forces to create internet of things (IoT) products. Uzbektelecom and Kazakhtelecom have exchanged plans for the development of infrastructure as well as for the overall coordination in the information and communications market. Both sides hope that this will lead to a fruitful …

The American company Teoco is bringing internet of things (IoT) solutions to Uzbekistan and helping the country use technology to become “Smarter”. Previously, Teoco had worked in Mumbai on the ‘Smart City’ project, which placed sensors and cameras around the city and integrated them with social networks as a way …

It’s no secret that cybercrime in the world is developing at a rapid pace, with cybercriminals becoming better in their attacks and in ways to tricking people and systems. In Uzbekistan in the second quarter of 2018, 26% of internet users faced at least one cyber-attack, down from 31.52% in …

One of the most common cyber threats in Uzbekistan is hidden mining. Although there are still threats associated with the more traditional unknown downloading and installation of a mining program onto user computers, hackers and programmers have become more ingenious in recent years. Uzcert and ESET (a company specialized in …

Following a presidential decree on introducing a special management system for the city of Tashkent, residents of Tashkent will have the opportunity to decide how to spend city funds by going to a special online portal. The online portal will allow residents to put forth proposals, vote on which projects …

The company Click has partnered with charitable organization Waqf to provide Muslims the opportunity to make religious-based payments via the internet and cellular communication devices, meaning that Muslim users can now fulfill compulsory and other payments in accordance with the canons of Islam at any time and in any place. …

Following a presidential decree regarding measures to innovate the development of culture and art in Uzbekistan, blockchain technology will be introduced into the system of ticket sales for cultural and art institutions. The Ministry of Culture and the Foundation for the Development of Culture and Arts have been tasked to …

UzCard has announced the launch of instant money transfers from Qiwi and CONTACT. The transfer is currently only available in one direction (i.e. from Qiwi/CONTACT to UzCard); however, UzCard plans on introducing additional functions in the near future. Transfers are available in amounts of up to USD 500, with up …

With people spending an increasing amount of time in digital space and starting to use electronic money more often, the relationship between financial institutions and their customers is changing. Traditionally, financial institutions worked, essentially, around cash-based services that were provided through one channel: the branch. Financial institutions, growing with the …

The Central Bank of Uzbekistan has proposed legislative amendments that, for the first time, provide a legal definition for what constitutes a “digital bank”. The proposed amendments would define a digital bank as an entity that renders banking services at a distance via innovative technologies and without cashier services. Additionally, …

Payme users can now receive online loans of up to UZS 1 million. The application now allows users to request a loan within the application. Once the request is sent, the creditworthiness of the borrower is evaluated. Approved borrowers are then offered a 30-day loan for amounts ranging from UZS …