UZEX, Trustbank and Transkapitalbank sign memorandum of cooperation
Tashkent, Uzbekistan (UzDaily.com) -- On 26 June 2019, a Memorandum of Cooperation was signed between PJSC “Trustbank”, PJSC “Transcapitalbank” and AO “Uzbek Republican Commodity and Raw Materials Exchange” (UZEX).
The memorandum was signed within the framework of the practical implementation of the decisions of the first meeting of the Joint Commission at the level of the heads of government of Russia and Uzbekistan, held on 30 May in the city of Urgench.
The signed document envisages joint activities for the development and implementation of a unified service mechanism and infrastructure improvement to ensure the settlement operations of customers of UZEX through the accounts of Trustbank Trust Bank in PJSC Transcapitalbank.
This mechanism will allow to apply additional banking tools in optimizing the calculations of exchange trade in foreign trade transactions, simplifying the procedures for executing transactions and improving settlement operations, as well as serve as a solution to strategic tasks to increase the volume of foreign trade turnover between the Republic of Uzbekistan and the Russian Federation.
PJSC “Transcapitalbank” is a universal bank that performs all major types of banking operations. In terms of assets and share capital, the Bank consistently ranks among the 50 largest Russian banks.