Uzbek Ambassador Alisher Tukhtayev met with the governor of the State Bank of Pakistan, Jamil Ahmed. During the meeting, the parties discussed in detail the ways to improve interbank payments in order to boost the two-way trade.
They underscored that despite the establishment of correspondent relations between some commercial banks of Uzbekistan and Pakistan, this type of banking services is not widely used by business entities, and they pointed to the need to conduct research on this issue.
Jamil Ahmed added that Pakistan is freely making payments with foreign banks and states. He recommended that Uzbek banks wishing to launch their operations in the country should first open representative office, and then turn it into a branch.
He also briefed on the barter system with foreign countries and the principles of its operation and suggested that a delegation of Uzbekistan consisting of officials of the Central and commercial banks should visit Pakistan to improve interbank payments between the two countries and launch modern banking services.
