Uzbekistan and Pakistan Banks Discuss Prospects for Establishing International Financial Cooperation

With the assistance of our country’s embassy, online negotiations were organized between officials of “Uzsanoatqurilishbank” and Pakistan’s “Sindh Bank.”

At the beginning of the meeting, it was emphasized that in recent years, large-scale reforms have been implemented in Uzbekistan aimed at supporting and modernizing the banking and financial system. In particular, increasing the capitalization level of banks, expanding the share of the private sector, introducing digital banking services, and strengthening cooperation with international financial institutions have been identified as priority tasks. These reforms are contributing to enhancing the stability of the banking system in Uzbekistan, improving the investment climate, and ensuring sustainable economic growth.

The Pakistani side was provided with detailed information about the activities of “Uzsanoatqurilishbank,” its financial indicators, and its position in the market. As noted, the bank is one of Uzbekistan’s leading financial institutions, holding nearly an 11 percent share in terms of asset volume and loan portfolio. It was also highlighted that the bank actively participates in international financial markets, has obtained credit ratings from reputable international rating agencies, and has experience in successfully issuing Eurobonds.

In turn, representatives of Pakistan provided comprehensive information about the organizational structure and main areas of activity of “Sindh Bank.” It was noted that the bank has a state share and stands out due to its extensive network of branches across the country. The bank operates effectively in trade finance, agricultural support, treasury operations, and corporate banking.

The main topic of the negotiations was the establishment of mutually beneficial cooperation between the banks. The parties expressed strong interest in the possibility of opening correspondent accounts in Pakistani rupees. At the same time, they exchanged views on the prospects of expanding financial operations in Uzbek soums and other foreign currencies in the future, in compliance with relevant requirements.

At the conclusion of the meeting, which marked an important step toward further developing cooperation between the financial institutions of the two countries, the parties agreed to continue regular dialogue through diplomatic channels in order to consistently strengthen interbank relations.