Document from CIS Legislation database © 2003-2024 SojuzPravoInform LLC

DECISION OF ECONOMIC COUNCIL OF COMMONWEALTH OF INDEPENDENT STATES

of December 14, 2007

About activities of Interstate bank

The economic council of the Commonwealth of Independent States solved:

1. Take into consideration the Information on activities of Interstate bank (is applied) prepared by Interstate bank together with Executive committee of the CIS and considered by the Commission on economic problems.

2. Ask the governments of the State Parties of the CIS which are agreement parties about organization of Interstate bank of January 22, 1993 taking into account changes in the bank and currency sphere in recent years to determine till June 1, 2008 the line item by reorganization of Interstate bank according to the Decision of Council of CIS Heads of Government of September 18, 2003 about offers on development of interaction of the State Parties of the CIS in the economic sphere.

To submit to council of Interstate bank and Executive committee of the CIS the summarized information and relevant proposals for consideration of CIS Economic Council.

3. Recommend to Interstate currency committee to consider together with Interstate bank condition of question of creation of payment and settlement system based on national currencies of gosudarstvuchastnik of the CIS provided by the Plan of the major actions aimed at the development and increase in efficiency of interaction of the State Parties of the CIS in the economic sphere in 2003 - 2010, the approved Decision of Council of heads of states of the CIS of September 19, 2003 and perspectives of this work taking into account the modern level of development of payment and settlement technologies.

 

For the Azerbaijan Republic

For Ukraine

For the Republic of Armenia

For the Republic of Moldova

For the Republic of Belarus

For the Russian Federation

For Georgia

For the Republic of Tajikistan

For the Republic of Kazakhstan

For Turkmenistan

For the Republic

Uzbekistan

 

Information on activities of Interstate bank

The interstate bank (further - Bank) is formed according to the Agreement on organization of Interstate bank signed on January 22, 1993. Founders of Bank are the governments and the Central (national) Banks of the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Republic of Moldova, the Russian Federation, the Republic of Tajikistan, Turkmenistan, the Republic of Uzbekistan and Ukraine.

The bank is international settlement and the financial institution performing activities according to regulations of the international public law.

According to the Agreement and the Charter of Interstate bank its main objectives and tasks are:

the organization of multilateral interstate payments between the Central (national) Banks of participants on trading and other activities; coordination of monetary policy of member countries; short-term lending of the Central (national) Banks;

studying and the analysis of economy of agreement parties, preparation of recommendations and offers to the Central (national) Banks on coordination of their monetary and monetarist policies;

making of other banking activities which are according to the purposes and tasks of Bank following from the Agreement on organization of Interstate bank and its Charter.

Because soon after formation of Bank of the member country within development of the state sovereignty began to pursue independent monetary and monetarist policy, the tasks of Bank concerning coordination of their activities lost the relevance. As a result the Bank concentrated the activities on carrying out traditional bank settlement credit operations.

At the 19th meeting of Council of the bank in October, 1999 the perspective program of activities of Interstate bank by which the Bank is guided in recent years was adopted.

The main objective of Bank determines assistance in providing financial conditions for forming and development of stable trade and economic and production relations between the State Parties of the CIS.

For the solution of this task the Bank performs the organization and carrying out payments in national currencies between business entities and banks of the State Parties of the CIS, crediting of joint projects, consecutive expansion of investing activities for the benefit of these states.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SoyuzPravoInform LLC.