On September 11, the Management Board of the Bank of China visited Uzbekistan to engage in a meeting with the regulatory head, Mamarizo Nurmuratov, and his team to deliberate on the potential of the banking sector in Uzbekistan, with the Chinese side expressing a keen interest in studying the local market's legislation.
Reportedly, Uzbekistan's Central Bank provided the delegation with the necessary information and explanations required. Besides, the parties discussed the further development of the financial market in Uzbekistan.
In September 2022, a delegation from the Korean Kyongnam Bank held discussions with the Central Bank regarding opening a subsidiary bank in Uzbekistan. A few months later, the Uzbekistan government approved opening a branch within the country.
In March of 2023, Standard Chartered Bank conveyed interest in entering Uzbekistan. The British Investment Bank representatives pursued a meeting with IIPT to discuss raising funds for projects in metallurgy, infrastructure, and other areas and export financing.
Earlier reports indicated that Ravnaq-bank would be renamed Octobank as part of a change in ownership and management.
The Bank of China, founded in 1912, is the oldest Chinese credit institution. It is recognized as one of the foremost banks in the People's Republic of China in terms of assets, with branches situated in Hong Kong, Macao, Taiwan, and over 30 countries worldwide, including those in Asia, America, Africa, and Europe, such as Russia and Kazakhstan.
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