Uzbek Finance Ministry hosts meeting with EBRD representatives on the development of the derivatives market in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- On 12 October, Deputy Finance Minister Odilbek Isakov met with Axel van Nederven, Treasury Director of the European Bank for Reconstruction and Development.
The meeting was also attended by Murodbek Atajanov, First Deputy Head of the Treasury of the Ministry of Finance, Nodirbek Sobirov, Risk Management and Hedging Consultant, and Ode Pakatte, Head of the Portfolio Management Department of the European Bank for Reconstruction and Development, Azamat Mauilsharip, Trader of the Portfolio Management Department, and Jahan Shamsiev , EBRD Director for Central Asia, and a number of officials.
During the meeting, the parties exchanged views on reducing the dependence of the Uzbek economy on foreign currency by developing the derivatives market in Uzbekistan, increasing the efficiency of financial markets and introducing new capital market instruments, attracting loans in national currency and reducing the burden of payments in foreign currency.
At the end of the meeting, the parties signed the ISDA General Agreement developed by the International Swaps and Derivatives Association for the first test swap operation in Uzbekistan.
Following the meeting, the parties agreed to work together on an ongoing basis on the above issues, on regular meetings and work on cooperation.