The Interbank Consortium of the Shanghai Cooperation Organization

The Shanghai Cooperation Organization Interbank Consortium (SCO IBC) was established on October 26, 2005 under the decision made by the Council of Heads of SCO Member States on creating a mechanism to financially support and service investment projects in the SCO member countries economic area (Agreement on interbank cooperation within the Shanghai Cooperation Organization).

Member banks:

  • Kazakhstan Development Bank, JSC
  • RSK Bank, OJSC (Kirgizia);
  • China Development Bank (CDB);
  • State Corporation “Bank for Development and Foreign Economic Affairs” (Vnesheconombank);
  • State Savings Bank of the Republic of Tajikistan “Amonatbonk”;
  • Uzbekistan National Bank for Foreign Economic Affairs.

The main tasks of SCO IBC are to organize funding for investment projects, enhance interaction with financial institutions of observer states and partners in the framework of SCO dialogue, cooperate with leading economic institutions operating in the SCO area (the SCO Business Council, the Eurasian Development Bank), exchange experience and cooperate in personnel training.

Partner banks:

  • Eurasian Development Bank (2008);
  • Savings Bank Belarusbank, OJSC (2012);
  • Habib Bank Limited (Islamic Republic of Pakistan) (2015);
  • Development Bank of Mongolia (2016).