Photo: OECD

TASHKENT, Uzbekistan, May 6. The Central Bank of Uzbekistan and Standard Chartered Bank of the UK have explored prospects for deepening cooperation in digital finance, financial technologies, and international reserve management, Trend reports via the Uzbek Central Bank.

The discussions were conducted between representatives of both institutions on the sidelines of the 59th Annual Meeting of the Asian Development Bank in Samarkand, Uzbekistan.

The parties exchanged perspectives on the development of digital banking, fintech solutions, digital assets, digital custody services, and cross-border payment infrastructure. Representatives of Standard Chartered emphasized the increasing role of digital finance in integrating traditional banking services with emerging financial technologies.

Special attention was devoted to central bank digital currencies (CBDCs), with the Central Bank of Uzbekistan indicating that it is examining international practices in this domain and evaluating relevant approaches in coordination with competent authorities.

The Central Bank further outlined its conservative framework for international reserve management, prioritizing safety, liquidity, and profitability, while underscoring ongoing efforts to diversify reserve assets and fully automate reserve management processes.

The parties also reviewed global trends in reserve management, including portfolio diversification, collaboration with custodian banks, engagement of external asset managers, and opportunities across diverse financial markets. Standard Chartered reaffirmed its readiness to provide technical assistance and share expertise in reserve management and investment diversification.