Chairman of the National Bank of Kazakhstan Daniyar Akishev noted that the document enables the banks of Kazakhstan to open subsidiary banks in the Republic of Uzbekistan.

According to him, Halyk bank claimed interest in the Uzbek market. He also expressed the hope that other banks will also want to open subsidiary banks in the neighboring country.

Regulators within the framework of the documents will exchange information on significant innovations and changes that affect the banking sector of the two states, as well as on regulatory, control and supervision issues, to the extent permitted by national legislation.