Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank of Uzbekistan hosted a two-day seminar on trade finance for employees of the Central Bank and representatives of commercial banks, organized jointly with the International Finance Corporation (IFC) with the participation of the management of the Central Bank of the Republic of Uzbekistan and the IFC.

The seminar, held in a free-form dialogue format, covered a wide range of issues, including the advantages and characteristics of letters of credit, comparison of short-term capital borrowing and trade finance, international standards and best practices, correspondent banking relationships; how to improve and expand them, etc.

Industry experts noted the advantages of trade finance, as an opportunity for cooperation and interaction with almost all countries of the world. In particular, today the IFC cooperates with four commercial banks of Uzbekistan on trade finance issues.

The seminar also addressed issues related to various innovative solutions in the field of short-term working capital financing, basic legal and regulatory aspects, the role of government organizations and industry associations in promoting ABF/SCF, main aspects of the creation and operation of the national SCF platform.

At the end of the event, participants exchanged experiences and gained additional knowledge in trade finance issues.