National Bank of Pakistan cease to operate in Uzbekistan
BAKU, Azerbaijan, Aug. 11
By Ilkin Seyfaddini – Trend:
The National Bank of Pakistan is stopping banking operations in the Uzbek market, Trend reports citing Central Bank of Uzbekistan.
By decision of the Banking Supervision Committee of the Central Bank of Uzbekistan from July 30, 2020, the accreditation certificate of the National Bank of Pakistan's representative office in Tashkent city was cancelled.
The decision was made in line with the request of the National Bank of Pakistan to close banking operations in the markets of Central Asia and Azerbaijan, including their representative office in Tashkent in connection with the adoption of the Business Strategy for international operations of the bank.
The representative office of the National Bank of Pakistan in Tashkent was opened with a view to strengthening banking and investment cooperation between Uzbekistan and Pakistan, and began its operation on November 29, 1995, on the basis of an accreditation certificate issued by the Central Bank of Uzbekistan.
Earlier, Georgian TBC Bank started banking operations in Uzbekistan and opened its first branch in Tashkent, TBC Bank Uzbekistan.
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