Tashkent ( WNAM MONITORING0: Uzbekistan’s Ambassador Alisher Tukhtaev met with the Chairman of Pakistan’s State Bank, Jameel Ahmad, to discuss promising areas of bilateral cooperation.
The meeting focused on enhancing interbank settlements to stimulate bilateral trade. Despite the establishment of correspondent relations between several commercial banks in Uzbekistan and Pakistan, it was noted that these services are not widely utilized by entrepreneurs. Both sides emphasized the need for further research to improve the current system.
Jameel Ahmad highlighted that Pakistan’s banking system operates freely with foreign banks and countries. He suggested that Uzbek banks interested in entering the Pakistani market should first establish representative offices before expanding into full-fledged branches.
Additionally, information was provided on the barter system that Pakistan has established with other countries, along with an explanation of its operating principles. To further improve interbank settlements and modernize banking services, the chairman invited a delegation of Uzbek banks to visit Pakistan.
