Pakistan’s Sindh Bank is considering opening a branch in Uzbekistan, as it was reported by Dunyo News Agency.
An online meeting was held between representatives of the Central Bank of Uzbekistan and the state-owned Pakistani bank with the assistance of the Embassy of Uzbekistan in Islamabad. During the discussions, the parties reviewed opportunities to develop cooperation between the banking sectors of Uzbekistan and Pakistan.
One of the topics discussed was the possibility of opening a branch of Sindh Bank in Uzbekistan. The bank’s Deputy Executive Director, Asad Ali Shah, indicated the institution’s interest in establishing correspondent banking relations with commercial banks in Uzbekistan. According to him, such cooperation could help support trade and economic relations between the two countries.
Representatives of the Central Bank of Uzbekistan stated that they are prepared to assist in facilitating partnerships between Sindh Bank and leading financial institutions in the country.
The Pakistani side also noted that the initial stage of cooperation may involve the use of the Relationship Management Application (RMA) system, which is a specialized relationship management service for users of the SWIFT financial messaging network. This mechanism allows banks to establish secure communication channels and manage correspondent relationships.
