Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of Uzbekistan and the National Administration of Financial Regulation of the People’s Republic of China have signed a Memorandum of Understanding in the field of banking supervision.

The signing of the document is aimed at strengthening bilateral cooperation and enhancing the effectiveness of oversight over banking institutions.

The parties intend to establish a systematic exchange of information in the areas of anti-money laundering and countering the financing of terrorism, as well as to support the entry of Chinese banks into Uzbekistan’s financial market.

The Memorandum also provides for regular consultations, the exchange of experience in financial regulation and banking supervision, as well as the joint organization of sector-specific events and programs.