Baku, Azerbaijan, Aug. 16
By Fikret Dolukhanov – Trend:
In 2Q2018, the population of Uzbekistan has cashed out from bank cards funds in the amount of 2.2 trillion soums, which is 1.4 times more than in the first quarter of this year, according to the report of the Central Bank of Uzbekistan entitled as "Review of cash money circulation in 1H2018".
The trend of growth of cash money withdrawals was accompanied by an increase in the share of cash purchases, the message says.
"So, while in January-June 2018, the volume of cash payments for goods and services increased by 2.7 times compared to the corresponding period of 2017, the volume of transactions using bank cards remained unchanged," the Central Bank said in a statement.
In general, the increase in the total amount of cash withdrawals from bank cards and the share of cash money in the proceeds from trade revenues and paid services indicates their preferment as a means of payment among the population.
In 1H2018, cash balances on bank cards of individuals has increased by 16 percent, from 1.6 trillion soums in January to 1.8 trillion soums in June.
At the same time, an increase in the turnover of cash through the banks' cash desks is observed under the influence of structural changes implemented in the money and credit sphere. In particular, in January-June 2018, the average monthly turnover of cash through banks’ cash desks has amounted to 11.7 trillion soums, which is 2.5 times more than in the corresponding period of 2017 (4.7 trillion soums).
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