DUSHANBE, July 9, 2010, Asia-Plus — There are no serious problems that would impede integration processes among central banks of member nations of the Eurasian Economic Community (EAEC).
Member of the Board of the Belarus National Bank, Aleksandr Galov, remarked this at the ongoing 22nd session of the EAEC council of heads of central (national) banks in Dushanbe.
The two-day meeting that is concluding today brought together central bank heads from Tajikistan, Belarus, Kazakhstan, Kyrgyzstan and Russia as well as representatives from the Interstate Bank, the Eurasian Development Bank (EDB), the EAEC Integration Committee Secretariat and EAEC Member-States” Permanent Representatives Commission to discuss measures to support the banking sector and ensure financial sustainability of the EAEC states under conditions of the global financial crisis.
Mr. Galov noted that there were problems with strengthening of interaction between the EAEC central banks. He pointed to the necessity of closer coordination of work of the banks, unification of laws regulating the banking activity and development of mechanisms of procedures of interaction.
President of the Interstate Bank Igor Suvorov noted that the meeting yesterday considered a broad range of issues, including unification of approaches within the EAEC area.
Director of the international financial and economic relations department within the Russian Central Bank, Vladimir Khrebetov, noted that financial and economic situations was gradually becoming stable after the recent global crisis that paved the way for expansion of cooperation between the banks.
The deputy head of the National Bank of Tajikistan (NBT), Jamshed Yusupov, said the meeting participants yesterday also discussed implementation of decisions adopted by the 21st session and considered the findings of the aggregate analysis of turnover-related currency payments, the findings of analysis of dynamics of national currencies, problems of balance of payments and international reserves, development of a draft agreement on harmonization of mechanisms of conducting monetary and currency policy, and money transfer issues.
Founded on February 15, 2001, the EAEC council of heads of central (national) banks is dedicated to promote development and strengthening of the banking cooperation within the EAEC area.
