Limits Imposed on the Number of Bank Cards for Citizens
Uzbekistan
Starting January 1, the Central Bank of Uzbekistan has imposed a limit on the number of bank cards issued to an individual. Each person can hold up to 5 cards per bank, with a total limit of 20 cards across all banks. This includes virtual and co-branded cards.
The Central Bank stated that this measure aims to prevent suspicious (fraudulent) transactions involving bank cards and reduce the involvement of personal accounts and bank cards in fraudulent schemes.
This requirement does not apply to bank cards issued in foreign currencies.
According to data, approximately 97% of individuals who own bank cards (22 million people) have up to 5 cards. Another 3% (770,000 individuals) have between 5 and 20 cards, while only 0.03% (7,000 individuals) possess more than 20 cards.
An analysis of the bank cards issued in large quantities under individual names revealed that some of these cards (often without the owner’s knowledge) are being used for fraudulent purposes.
This requirement does not apply to bank cards issued in foreign currencies.
According to data, approximately 97% of individuals who own bank cards (22 million people) have up to 5 cards. Another 3% (770,000 individuals) have between 5 and 20 cards, while only 0.03% (7,000 individuals) possess more than 20 cards.
An analysis of the bank cards issued in large quantities under individual names revealed that some of these cards (often without the owner’s knowledge) are being used for fraudulent purposes.
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