Uzbek bank signs agreement on trade finance with S.Korean bank

Finance Materials 22 April 2019 17:31 (UTC +04:00)

Baku, Azerbaijan, Apr. 22

By Fakhri Vakilov – Trend:

Uzpromstroybank JSCB and Shinhan Bank (South Korea) signed a basic agreement on trade finance in the amount of $60 million, Trend reports via Uzbek media.

The document provides funding for projects involving the import of technological equipment and services from South Korea and other countries.

Moreover, Uzpromstroybank and Keb Hana Bank signed an agreement providing access for migrant workers from Uzbekistan to Keb Hana Bank products, such as Easy-one Banking Remittance (SWIFT account transfers), with a reduction in the cost of fees for transfers through ATMs (Easy-one service) and mobile applications (KEB Hana mobile banking).

A test transaction for a money transfer from Korea to Uzbekistan has already been successfully made.

Today, the parties carry out marketing activities to promote this product among customers.


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