Chinese ICBC Standard will enter the financial market of Uzbekistan

The Chinese transnational bank ICBC Standard plans to enter the financial market of Uzbekistan, Spot reports, citing the press service of the Central Bank.

The Central Bank delegation met in London with representatives of ICBC Standard Bank. In particular, issues of improving the infrastructure of the financial market of Uzbekistan and improving the regulatory framework based on international standards were discussed.

Also at the meeting, the parties agreed on technical aspects related to the investment bank’s entry into the Uzbek financial market.

ICBC Standard will begin to carry out settlements in Uzbek soums and transactions with government securities in the coming days.

In addition, investment bank experts advised the Central Bank to establish relations with international depositories, connect local and international settlement systems, and also create a legal environment to attract large foreign institutional investors to local financial markets.