JSC "Uzpromstroybank" became the first bank in Uzbekistan to receive a direct connection to the Chinese Cross-Border Interbank Payment System
On September 9, 2026, as part of the official visit of the delegation of the Republic of Uzbekistan headed by the Prime Minister
JSC "Uznatbank" became the first bank in Uzbekistan to obtain a direct connection to the Chinese Cross-Border Interbank Payment System
On September 9, 2026, during the official visit of the delegation of the Republic of Uzbekistan led by Prime Minister A.N. Aripov to the Hong Kong Special Administrative Region, JSC "National Bank for Foreign Economic Activity of the Republic of Uzbekistan" (JSC "Uznatbank") concluded an agreement with the system operator CIPS Co., Ltd. on direct connection to the Cross-Border Interbank Payment System of China ("CIPS").
The signing ceremony took place on the sidelines of the 11th "Belt and Road" Summit, which brought together heads of government agencies, leading global financial institutions, and representatives of the business communities of the two countries. As a result, JSC "Uznatbank" confirmed its status as the first commercial bank in Uzbekistan to gain access to the modern infrastructure of direct cross-border settlements in yuan.
Direct connection to the system, which unites more than 1,800 financial institutions from 130 countries and ensured a turnover of over 180.2 trillion yuan in 2025, makes it possible to conduct operations in yuan without the participation of intermediary correspondent banks.
This, in turn, ensures faster payments and reduced costs when servicing foreign trade contracts, and also expands opportunities for operations in yuan, the volume of credit lines attracted by JSC "Uznatbank" in which already exceeds 11.5 billion yuan (equivalent to 1.6 billion USD).
In the future, the status of a direct participant will allow JSC "Uznatbank" to act as a settlement center for other commercial banks of Uzbekistan with CIPS, forming a national channel of direct settlements in yuan for the domestic banking sector and strengthening the Bank's role as the main national hub and infrastructural center for cross-border settlements with the PRC.
These achievements became the logical result of the consistent policy of the leaders of Uzbekistan and China and the practical implementation of the agreements following the recent SCO Summit. This course towards deepening the strategic partnership is supported by high growth rates of mutual trade: the PRC maintains its status as the republic's main trade and economic partner on the way to the common goal of bringing mutual trade turnover to 30 billion USD.
JSC "National Bank for Foreign Economic Activity of the Republic of Uzbekistan" was founded in 1991 and is the country's largest systemically important bank. At the end of 2025, the bank's assets exceeded 12 billion USD, the loan portfolio reached 9.0 billion USD, total capital exceeded 1.6 billion USD, and net profit amounted to 160 million USD, which is one of the highest indicators in the republic's banking system.
The Cross-Border Interbank Payment System (CIPS) was launched by the People's Bank of China in 2015 to expand the international use of the Chinese yuan.
Unlike the SWIFT financial messaging system, CIPS provides not only messaging but also clearing and settlement in yuan. At the end of 2025, payments worth over 180.2 trillion yuan were processed through the system, and its participants include more than 1,800 financial institutions from more than 130 countries around the world.