SCO Interbank Association seeks to ensure prosperity of member states - secretary general

BEIJING, June 6. /TASS/. The Shanghai Cooperation Organization (SCO) Interbank Association seeks to improve the welfare of people in member states, SCO Secretary General Rashid Alimov said at a meeting of the SCO Interbank Association Council in Beijing on Wednesday. "An effective interbank association is important for trade and economic cooperation in the SCO space," he said. "Active interaction with the organization’s Business Council, as well as joint efforts of the two important SCO institutions will give an additional impetus to economic activities," Alimov added. "The SCO Secretarial will continue to support the Interbank Association’s efforts in all areas in order to promote prosperity and improve the welfare of people in SCO member states," he noted. According to the SCO secretary general, the China Development Bank significantly contributes to boosting and expanding interbank cooperation. "Being one of the largest banking organizations in the world… it demonstrates leadership in expanding banking and financial interaction and deepening cooperation, involving a growing number of financial institutions from the regional countries in joint development within the association," Alimov noted. He also said that the SCO Interbank Association was commended for its work by member states’ prime ministers, who endorsed its 2021 development strategy at a meeting in Sochi on December 1, 2017. The SCO Interbank Association’s meeting has taken place ahead of a two-day SCO summit scheduled to begin in the Chinese city of Qingdao on June 9. India and Pakistan will for the first time participate in the summit as SCO members. The founding members include Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. India and Pakistan were granted SCO membership on June 9, 2017. Afghanistan, Belarus, Iran and Mongolia currently enjoy observer status, while Sri Lanka, Turkey, Azerbaijan, Armenia, Cambodia and Nepal are dialogue partners. Read more