Baku, Azerbaijan, Oct. 4
By Fakhri Vakilov-Trend:
Uzbek AKB “Asia Alliance Bank” has established cooperation with the USA Bank of New York Mellon, Trend reports citing Uzbek media.
At the end of September 2019, the bank signed an agreement on opening a correspondent account in US dollars with one of the leading banks in the USA - Bank of New York Mellon. It is worth noting that for this bank, the establishment of cooperation with a bank from Uzbekistan takes place for the first time since the late 90s.
Moreover, within the framework of the SIBOS 2019 conference in London and the negotiations held during the event, an agreement was reached between banks on cooperation in the field of trade finance and treasury operations.
The reached agreements on cooperation with the leading world bank contribute to the expansion of activities in the field of international payments, the development of international money transfer services, as well as strengthening the international status of the bank.
The direct correspondent account in US dollars will allow the bank's customers to carry out mutual settlements in the shortest possible time, as well as reduce payment costs, completely avoiding payment of the commission of third banks.
Bank of New York Mellon was founded in 1784 and is one of the first banks opened in the United States, as well as the 20th oldest bank in the world, with offices in more than 40 countries. Today, Bank of New York Mellon is one of the largest investment companies in the world in terms of assets.
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