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Uzbekistan can become financial center of CIS

10 July 2018 [13:45] - TODAY.AZ

By  Trend

Uzbekistan can be a financial center in the CIS in terms of volume and turnover of capital, said the President of the Interstate Bank Igor Suvorov the day before during talks in Tashkent with the Deputy Prime Minister, Minister of Finance of Uzbekistan Jamshid Kuchkarov, reported.

"We are very pleased with our visit to Uzbekistan and are interested in intensifying the dialogue. Moscow has taken a course to create financial centers. The idea of creating an international financial center within the CIS is relevant and timely today more than ever, and we see that Uzbekistan can be a financial center in the CIS in terms of volume and turnover of capital. We hope for the speedy implementation of the ideas," Suvorov said.

The Interstate Bank was founded in 1993 by ten CIS States. Its main purpose is to promote economic integration and development of national economies through the creation of a mechanism for settlements for cross-border payments in national currencies, lending to foreign trade operations of CIS countries in national currencies, as well as participation in the implementation of projects of international importance.

"Now Uzbekistan is one of the most interesting countries, a country of discoveries, a country of novelties. We are following the reforms that are taking place in your country, and a presidential decree on the development of the digital economy has been issued in your country this week. This is a revolutionary step in the era of technological revolution, and we welcome these changes. And the idea of holding a financial and technological forum here is justified. The infrastructure is in place and the borders are open. We are sure that all the neighbors will respond," said Director General of the CIS Financial and Banking Council Pavel Nefedov.

The prospects of possible cooperation between the Central Bank of Uzbekistan, commercial banks and the Interstate Bank were also discussed during the meeting. In particular, the parties discussed the possibility of opening mutual correspondent accounts in the national currencies of the CIS countries as the first steps to establish cooperation.

The payments are made through correspondent accounts of the Interstate Bank, opened directly in the central (national) banks and denominated in the national currencies of the respective countries.


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