“Yuksalish” nationwide movement called on the government to reconsider the issue of P2P transfers. The movement supported the position of the Central Bank in this regard.

“Yuksalish” stated that the fact that card-to-card transfers are under the control of the tax authorities is the cause of objections from the general public, stating that this is contrary to the new version of the constitution, which came into force on May 1 and is directly applicable.

“The secrecy of bank transactions is guaranteed in our constitution (Article 41) and the inviolability of the human rights established in the constitution and laws, which no one has the right to be deprived of without a court order (Article 20),” the official statement reads.

According to activists, this practice backfires and causes the following negative consequences:

•  violates the constitutional rights of citizens and seriously undermines the principle of the rule of law;
•  increases the demand for cash payments, funds from the banking system move to the informal market, and in practice the scale of the secret economy increases;
•  leading to an increase in the gap between cash and non-cash payments.

“In this regard, it is important to give priority to aspects such as effective use of existing opportunities to bring the economy out of the shadow, conducting an equal and fair tax policy for taxpayers, and following the principles of the market economy.

According to the above, we support the CB position on providing information on P2P transfers on bank cards to the tax authorities, and we believe that this issue should be reconsidered,” the nationwide movement concluded.