UNIStream, Bank Credit Standard sign accord on partnership
Tashkent, Uzbekistan (UzDaily.com) --
Bank Credit Standard will open UNIStream service points at its branches across the country. UNIStream money transfer system and Bank Credit Standard of Uzbekistan signed an agreement on partnership.
The agreement envisages development of service points of operator through branches of the Uzbek banks, headquarters of which in Tashkent. The bank works in Samarkand, Kattakurgan, Ferghana and Kokand.
UNIStream said that strengthening of position in Uzbekistan will stimulate business development in whole Central Asia as Uzbekistan, Tajikistan and Kyrgyzstan are main suppliers of labour force to the CIS.
Suren Ayriyan, director-general of UNIStream, said that currently demand for money transfer systems formed due to labour migrants. And without such segment as Uzbekistan, it is impossible to imagine CIS money transfer market.
UNIStream turnover in Uzbekistan comprised US$281 million in July-September or 97% up year-on-year. Turnover in January-September made up US$603 million.