DUSHANBE, June 22, 2016, Asia-Plus – A meeting of the Council of the Interbank Association of the Shanghai Cooperation Organization (SCO) kicked off in the Uzbek capital, Tashkent, today.

The meeting participants include the heads of the leading banking institutions of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan as well as a number of banks of the observer states.  They are reportedly discussing topical issues of cooperation within the SCO framework.

The National Bank for Foreign Economic Activity of Uzbekistan is chairing the council in 2015-2016.

The Association unites authorized banks of the SCO member nations – Kazakhstan Development Bank, Vnesheconombank (Russia), Tajikistan Amonatbonk (savings bank), and the National Bank for Foreign Economic Activity of Uzbekistan.

The creation of the Interbank SCO Council was agreed upon at the Moscow summit of the SCO that took place on October 26, 2005.  The first meeting of the SCO Interbank Association was held in Beijing on February 21–22, 2006.  The SCO Interbank Association focuses on supporting regional economic cooperation.

In 2008, the Eurasian Development Bank (EDB) became partner of the Association in 2008.