Azernews.Az

Monday, November 2, 2026

Uzbek Qishloq Qurilish Bank, Russian AK BARS Bank ink deal

6 November 2018 10:56 (UTC+04:00)
Uzbek Qishloq Qurilish Bank, Russian AK BARS Bank ink deal

By Trend

Uzbekistan's Qishloq Qurilish Bank and Russia's AK BARS Bank signed a framework agreement, Uzbek media reported referring to the press service of the Uzbek bank.

According to the agreement, Qishloq Qurilish Bank opened a credit line for trade financing operations in the amount of $3.5 million for a period of up to 365 days.

Financing will be provided under the import and export contracts of the clients of Qishloq Qurilish Bank in US dollars, euros and Russian rubles.

The financing will be provided for import contracts by Russian exporters. The credit volume may be increased to $35 million if the financing is provided for non-commodity import contracts and in case if political and credit risks are insured by the Russian Agency for Export Credit and Investment Insurance (EXIAR).

In addition to the trade finance, the two banks are planning to establish correspondent relations in the near future.

---

Follow us on Twitter @AzerNewsAz

Here we are to serve you with news right now. It does not cost much, but worth your attention.

Choose to support open, independent, quality journalism and subscribe on a monthly basis.

By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.

Subscribe

You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper

Thank you!

Latest See more