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    Economics

    Kazakhstan’s Halyk Bank ceases servicing Russian Mir cards

    Kazakhstan’s Halyk Bank ceases servicing Russian Mir cards

    Halyk Bank, the largest financial institution in Kazakhstan, ceased accepting Russian Mir payment cards starting February 27. The bank confirmed that Mir cards will no longer be accepted in ATMs or POS terminals. Details behind the bank's decision remain undisclosed.

    Photo: Russian Mir cards
    Source: Sputnik News

    On April 2, "Elkart," the operator of the national payment system in Kyrgyzstan, declared the discontinuation of Mir cards effective from April 5. The action is a direct result of sanctions imposed by the United States.

    Banks in Armenia participating in Armenian Card (ArCa) stopped servicing Mir cards on March 30. Meanwhile, VTB Armenia Bank stands as an exception, continuing to accept the cards. Dmitry Peskov, the Kremlin's spokesperson, acknowledged the challenges posed by US sanctions and mentioned ongoing efforts to resolve issues related to the usage of Mir cards.

    The processing center UZCARD in Uzbekistan halted Mir card services on September 23, 2022, citing "technical procedures" amongst participants of the payment system. Additionally, the use of UZCARD - Mir co-branded cards was also restricted abroad.

    Mamarizo Nurmuratov, the chairman of the Uzbekistan Central Bank, noted in January 2023 that efforts are underway to resume the services of Mir cards in the nation. The pause is a precautionary measure to shield banks from potential sanctions, and discussions with the Office of Foreign Assets Control (OFAC) are in progress. The Central Bank, however, did not outline a specific timeline for the resumption of card services, and presently the cards remain inactive in Uzbekistan.

     

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    03.04.2024, 11:12   Comments (0)   1749
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