Uzbekistan, Russia expanding joint banking infrastructure

Finance Materials 10 August 2020 12:58 (UTC +04:00)
Uzbekistan, Russia expanding joint banking infrastructure

BAKU, Azerbaijan, Aug. 10

By Ilkin Seyfaddini - Trend:

Central Banks of Russia and Uzbekistan are holding negotiations to increasing the share of national currencies in settlements under Russian-Uzbek foreign trade contracts, a representative of the Russian Central Bank's press service told Trend in an interview.

According to the source, the sides also cooperate in the sphere of payment systems and information security.

"Interaction between the central banks of the two countries is carried out within the framework of a jointly created working body - Sub-Commission on Interbank Cooperation. We discuss cooperation issues and exchange experience in various areas at the level of financial institutions," the representative said.

As the representative noted, banks also cooperate in opening mutual correspondent accounts to service trade turnover between Russia and Uzbekistan.

The official added that in general, the established Russian-Uzbek banking infrastructure contributes to the foreign economic activities of the two countries.

Earlier, Central banks of Uzbekistan and Russia sign agreement on cooperation in cybersecurity. The document envisages organizing interaction between the central banks of the two countries aimed at preventing and detecting computer attacks in banking telecommunication systems, creating conditions for their suppression and improving information security of the parties.


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