TASHKENT, Uzbekistan, September 7.Chinese ICBC Standard Bank and Franklin Templeton Company have shown a keen interest in the growth and progress of the state securities market in Uzbekistan, Trend reports.
The news came hot on the heels of a powwow between the Central Bank of Uzbekistan, ICBC Standard Bank, and Franklin Templeton Company.
During the meeting, the sides went over the big picture of the macroeconomic situation and economic reforms in Uzbekistan, discussed the ins and outs of monetary policy and measures taken to develop the capital market, and also touched on recent changes in the banking and financial system.
In addition, the foreign experts showed a keen interest in government securities and put forward suggestions on boosting the secondary trade volumes, drawing from their international experience.
Following the meeting, the parties decided to keep the ball rolling and keep the lines of communication open in order to pave the way for enhancing the government securities market infrastructure down the road.
To recall, the CBU and ICBC Standard Bank began working together in 2023 when the Chinese international bank indicated interest in entering the Uzbek financial industry. The Central Bank of Uzbekistan and ICBC Standard executives met in London to discuss upgrading the country's financial infrastructure, notably government securities and international regulatory frameworks.
Franklin Templeton has been in cahoots with the CBU since 2022, bringing their A-game when it comes to capital market reforms.