Tan Sri Dato’ Sri Tay Ah Lek, Managing Director of Public Bank and Mr. Ravshan Abdukarimov, Deputy Chairman of the Central Bank of Uzbekistan with the signed agreement
Tashkent, Uzbekistan (UzDaily.com) --
Public Bank, the largest bank by market capitalisation in Malaysia, has on 1 December 2008 signed a Money Market Deposits Agreement with the Central Bank of the Republic of Uzbekistan. This Agreement will facilitate placements of money market deposits by the Central Bank of the Republic of Uzbekistan with Public Bank.
The signing of this Agreement will further consolidate the relationship of the two parties, and is a reflection of the continued confidence of the Government of the Republic of Uzbekistan in the soundness of the Malaysian Banking System under the stewardship of Bank Negara Malaysia. This is also testimony of the growing reputation of Public Bank’s strong capital position and superior asset quality that has enabled it to attract depositors from afar. Notwithstanding the current global scenario where financial institutions are under severe liquidity duress, well managed Malaysian banks such as Public Bank continue to generate favourable interest from foreign depositors.
This Agreement was inked by Mr. Ravshan Abdukarimov, Deputy Chairman of the Central Bank of the Republic of Uzbekistan and Tan Sri Dato’ Sri Tay Ah Lek, Managing Director of Public Bank, and witnessed by Mr. Murat Yakubjanov, Advisor to the Chairman of the Central Bank of the Republic of Uzbekistan and Mr. Wong Jee Seng, Chief Operating Officer of Public Bank.