Uzpromstroybank brings the direction of the treasury to a new stage
Tashkent, Uzbekistan (UzDaily.com) -- Within the framework of the II International Economic Forum of Uzbekistan, held on 3-4 November this year in the city of Samarkand, a number of agreements were reached aimed at expanding the participation of Uzpromstroybank in the financial market.
In particular, a primary dealer contract was signed between the Ministry of Finance, the Central Bank of the Republic of Uzbekistan and Uzpromstroybank.
This document provides Uzpromstroybank with the opportunity to participate in the government securities market for its customers and partners, as well as a dealer service for conducting operations in the secondary securities market.
It should be noted that at present Uzpromstroybank has expanded the volume of operations with government securities and has become an active participant in the market.
The institution, in tune with the positive changes observed in the field, mastered new market directions, began to contribute to the development of the national capital market.
As part of the forum, Uzpromstroybank and ICBC Standard Bank (London) also signed a general agreement developed by the International Swaps and Derivatives Association.
This agreement will enable the Bank to manage financial risks by executing transactions based on financial instruments involving various underlying assets on the international financial market.
It should be noted that Uzpromstroybank has established effective cooperation with ICBC Standard Bank and attracts large-scale resources from foreign financial institutions.
In partnership relations of the parties, at a new stage, an agreement was reached on the development of various financial products using derivative funds and the prospects for hedging currency risks in the financial market of Uzbekistan.
The current cooperation will serve to further integration of the Bank with international financial markets, the introduction of modern financial standards and instruments in the financial market of the republic.