About the SCO
On October 26, 2005 the Shanghai Cooperation Organisation Heads of Governments (Prime Ministers) Council took a decision to establish the SCO Interbank Consortium and signed the Agreement on Interbank Cooperation (Consortium) in the SCO framework.
The members of the SCO IBC are the Development Bank of Kazakhstan, the State Development Bank of China, the Settlement & Savings Company of the Kyrgyz Republic "RSK Bank", the State Development Corporation of the Russian Federation "VEB.RF", the State Savings Bank of the Republic of Tajikistan "Amonatbonk", the National Bank for Foreign Economic Activity of the Republic of Uzbekistan. In June 2018-2019, the India Infrastructure Finance Company and Habib Bank Limited of the Republic of Pakistan received the status of SCO IBO member banks.
The members of the SCO IBC are the Development Bank of Kazakhstan, the State Development Bank of China, the Settlement & Savings Company of the Kyrgyz Republic "RSK Bank", the State Development Corporation of the Russian Federation "VEB.RF", the State Savings Bank of the Republic of Tajikistan "Amonatbonk", the National Bank for Foreign Economic Activity of the Republic of Uzbekistan. In June 2018-2019, the India Infrastructure Finance Company and Habib Bank Limited of the Republic of Pakistan received the status of SCO IBO member banks.
On October 26, 2005 the Shanghai Cooperation Organisation Heads of Governments (Prime Ministers) Council took a decision to establish the SCO Interbank Consortium and signed the Agreement on Interbank Cooperation (Consortium) in the SCO framework.
The members of the SCO IBC are the Development Bank of Kazakhstan, the State Development Bank of China, the Settlement & Savings Company of the Kyrgyz Republic "RSK Bank", the State Development Corporation of the Russian Federation "VEB.RF", the State Savings Bank of the Republic of Tajikistan "Amonatbonk", the National Bank for Foreign Economic Activity of the Republic of Uzbekistan. In June 2018-2019, the India Infrastructure Finance Company and Habib Bank Limited of the Republic of Pakistan received the status of SCO IBO member banks.
The members of the SCO IBC are the Development Bank of Kazakhstan, the State Development Bank of China, the Settlement & Savings Company of the Kyrgyz Republic "RSK Bank", the State Development Corporation of the Russian Federation "VEB.RF", the State Savings Bank of the Republic of Tajikistan "Amonatbonk", the National Bank for Foreign Economic Activity of the Republic of Uzbekistan. In June 2018-2019, the India Infrastructure Finance Company and Habib Bank Limited of the Republic of Pakistan received the status of SCO IBO member banks.
The main goal of establishing the Interbank Consortium within the SCO framework was to set up a funding and banking mechanism for investment projects supported by the governments of the SCO member states.
The priority areas of cooperation within the SCO IBC are as follows:
- To provide funding for the implementation of projects with emphasis on infrastructure building, basic branches, high technology, export-oriented economic sectors, projects of social significance;
- To grant and attract loans based on the generally accepted international banking practice;
- To arrange pre-export funding with the aim of stimulating trade economic links among the SCO member states;
- To share information on potential clients and cooperation projects in compliance with the Agreement and necessary confidentiality requirements.
- To train personnel, organise delegation exchange and internship, conduct business workshops;
- Other areas of common interest.
The priority areas of cooperation within the SCO IBC are as follows:
- To provide funding for the implementation of projects with emphasis on infrastructure building, basic branches, high technology, export-oriented economic sectors, projects of social significance;
- To grant and attract loans based on the generally accepted international banking practice;
- To arrange pre-export funding with the aim of stimulating trade economic links among the SCO member states;
- To share information on potential clients and cooperation projects in compliance with the Agreement and necessary confidentiality requirements.
- To train personnel, organise delegation exchange and internship, conduct business workshops;
- Other areas of common interest.
The main goal of establishing the Interbank Consortium within the SCO framework was to set up a funding and banking mechanism for investment projects supported by the governments of the SCO member states.
The priority areas of cooperation within the SCO IBC are as follows:
- To provide funding for the implementation of projects with emphasis on infrastructure building, basic branches, high technology, export-oriented economic sectors, projects of social significance;
- To grant and attract loans based on the generally accepted international banking practice;
- To arrange pre-export funding with the aim of stimulating trade economic links among the SCO member states;
- To share information on potential clients and cooperation projects in compliance with the Agreement and necessary confidentiality requirements.
- To train personnel, organise delegation exchange and internship, conduct business workshops;
- Other areas of common interest.
The priority areas of cooperation within the SCO IBC are as follows:
- To provide funding for the implementation of projects with emphasis on infrastructure building, basic branches, high technology, export-oriented economic sectors, projects of social significance;
- To grant and attract loans based on the generally accepted international banking practice;
- To arrange pre-export funding with the aim of stimulating trade economic links among the SCO member states;
- To share information on potential clients and cooperation projects in compliance with the Agreement and necessary confidentiality requirements.
- To train personnel, organise delegation exchange and internship, conduct business workshops;
- Other areas of common interest.
The SCO IBC member banks constitute the Council comprised of one representative from each party (as a rule, in the capacity of chief executive officer from each party).
The Council meets ad hoc upon consensus of all parties, at least once a year.
The scope of competence of the SCO IBC Council includes:
- Coordination of the parties' current activity in accordance with the Agreement;
- Identifying new potential projects;
- Reviewing progress in project implementation;
- Approving the Annual Report on the IBC activity to be forwarded to SCO Secretary-General for its further submission to the SCO decision-making bodies;
- Interacting with other financial and banking institutions.
The presidency of the Council is passed on the rotation principle.
The Council meets ad hoc upon consensus of all parties, at least once a year.
The scope of competence of the SCO IBC Council includes:
- Coordination of the parties' current activity in accordance with the Agreement;
- Identifying new potential projects;
- Reviewing progress in project implementation;
- Approving the Annual Report on the IBC activity to be forwarded to SCO Secretary-General for its further submission to the SCO decision-making bodies;
- Interacting with other financial and banking institutions.
The presidency of the Council is passed on the rotation principle.
The SCO IBC member banks constitute the Council comprised of one representative from each party (as a rule, in the capacity of chief executive officer from each party).
The Council meets ad hoc upon consensus of all parties, at least once a year.
The scope of competence of the SCO IBC Council includes:
- Coordination of the parties' current activity in accordance with the Agreement;
- Identifying new potential projects;
- Reviewing progress in project implementation;
- Approving the Annual Report on the IBC activity to be forwarded to SCO Secretary-General for its further submission to the SCO decision-making bodies;
- Interacting with other financial and banking institutions.
The presidency of the Council is passed on the rotation principle.
The Council meets ad hoc upon consensus of all parties, at least once a year.
The scope of competence of the SCO IBC Council includes:
- Coordination of the parties' current activity in accordance with the Agreement;
- Identifying new potential projects;
- Reviewing progress in project implementation;
- Approving the Annual Report on the IBC activity to be forwarded to SCO Secretary-General for its further submission to the SCO decision-making bodies;
- Interacting with other financial and banking institutions.
The presidency of the Council is passed on the rotation principle.
