Uzbekistan, China Seal Banking Oversight Pact to Deepen Financial Ties

The Central Bank of Uzbekistan and the China Banking and Insurance Regulatory Commission (CBIRC) have signed a Memorandum of Understanding (MoU) to enhance cooperation in banking supervision and regulatory oversight in a major step toward deeper financial integration.

The agreement aims to strengthen bilateral ties between the two countries' financial sectors and improve the efficiency and resilience of banking oversight frameworks, The Caspian Post reports per Uzbek media.

A key focus of the MoU is the creation of a formal mechanism for information sharing, particularly in areas of anti-money laundering (AML) and countering the financing of terrorism (CFT).

The MoU also lays the groundwork for the entry of Chinese banks into Uzbekistan’s financial market, promoting increased investment and the expansion of financial services between the two countries.

Both regulatory bodies have committed to holding regular consultations, exchanging expertise, and organizing joint training sessions, workshops, and technical programs aimed at strengthening financial governance.