Uzbekistan Central Bank Opens Accounts for RBI

Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of the Republic of Uzbekistan has opened correspondent accounts in both national and foreign currencies for Raiffeisen Bank International AG (RBI). The decision is seen as another step in developing the country’s financial market and deepening its integration into the global financial system.

The opening of these accounts creates additional conditions for expanding the participation of foreign investors in the government securities market, including its secondary segment. This is expected to contribute to the further development of the public debt instruments market.

One of the key outcomes highlighted is the formation of a more transparent and market-based yield curve for government securities. Increased trading volumes on the secondary market enable yields across benchmark maturities to be determined through market mechanisms.

It is also noted that the inflow of foreign capital strengthens the long-term resource base of the financial system, expanding access to stable funding sources for the economy.

In addition, higher liquidity in financial instruments enhances the effectiveness of the monetary policy transmission mechanism, improving the impact of Central Bank decisions on the real sector of the economy.

The Central Bank emphasized that efforts to improve financial market infrastructure and deepen international integration will continue on a consistent basis.