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A Representative of the Central Bank Participated in the 18th Clearstream Summit for Central, Eastern Europe, and CIS Countries

Update date:  24 May 2024, 10:17
24 May 2024

On May 16-17, 2024, a representative of the Central Bank of the Republic of Uzbekistan, along with representatives from the Central Securities Depository and the Currency Exchange of the Republic of Uzbekistan, participated in the 18th Clearstream Summit for Central, Eastern Europe, and CIS countries. This international event, organized by the International Central Securities Depository Clearstream, was held in Budapest, Hungary.

Major foreign banks, central securities depositories, and leading financial experts took part in the summit. The event program included discussions on current topics in the global financial market, such as the role of artificial intelligence in the financial sector and innovative solutions in data processing. Particular emphasis was placed on modern trends in post-trade (clearing and settlement) digitalization.

During the summit, the representative of the Central Bank met with Samuel Riley, CEO of Clearstream, and Isa Ribeiro, Regional Director of Clearstream in Central Asia. At the meeting, changes in the banking and financial system of Uzbekistan were discussed, in particular, monetary policy, inflation targeting, and the capital market. Additionally, they explored the prospects of Clearstream International Depository entering the capital market of Uzbekistan, including the possibility of opening corresponding accounts in the Central Bank for funds and securities in the Central Securities Depository.

As part of the summit, the delegation also met with representatives of OTP Bank (Hungary). The discussions covered established requirements and available opportunities in the capital market of Uzbekistan, as well as the potential for OTP Bank's participation in this market.

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