Central Bank explains why PayPal does not operate in Uzbekistan
Although Uzbekistan is not included in the blacklist of the company, there is no way to link cards issued on the territory of Uzbekistan to the PayPal account.
Uzbekistan remains the only country in Central Asia that does not have PayPal services, the Uzbek banking regulator said on October 28.
According to the Central Bank, PayPal refused itself to operate in the Uzbek market.
Although Uzbekistan is not included in the blacklist of the company, there is no way to link cards issued on the territory of Uzbekistan to the PayPal account.
"The company set this restriction independently, without approval or discussion with local government agencies or organizations," the Central Bank said.
The Ministry for Investment and Foreign Trade held several negotiations with PayPal, during which it turned out that the company has no plans to launch In Uzbekistan.
"As soon as PayPal announces its intention to launch in Uzbekistan and start making payments in the national currency UZS, they will be required to obtain a license from the Central Bank," the regulator said in a statement.
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