(MENAFN- Trend News Agency) DUSHANBE, Tajikistan, May 1. The National Bankof Tajikistan and the Central Bank of Uzbekistan have signed anagreement in the field of monitoring the activities of creditinstitutions, Trend reports.
According to Tajikistan's bank, the agreement intends tostrengthen mutual cooperation by aligning views on regulatory andsupervisory problems affecting financial institutions. Thesedifficulties include permit procedures, inspections, and crisismanagement.
The agreement also includes on-site and remote monitoring, aswell as management over the process of acquiring and processingfinancial reports. It also addresses the identification andmonitoring of risks in the activities of credit institutions.
This agreement entails implementing and employing BaselCommittee norms for banking supervision, stress testing creditinstitutions' activities, and exchanging information to ensurefavorable conditions.
The document was signed during the spring meetings of the membercountries of the International Monetary Fund (IMF) and the WorldBank Group (WBG) by the chairmen of the banks.
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