Baku hosts fifth Banking Conference of CIS

The Fifth Baku international conference of the CIS "Financial markets of the CIS: new opportunities and global risks" started its work in Baku on 15 November.

As said at the conference Chairman of the Coordination Council of the Financial and Banking Council of CIS Anatoly Kazakov, to enhance integration between the financial structures of the CIS in the foreseeable future will inevitably transform the Financial and Banking Council, Finance and Banking Union. "Increased trade and investment stimulates the transition to the single currency in the CIS and important role in this process was played by the creation of an international financial center in Moscow with possible regional centers in Baku, Almaty and Kiev. This process, of course, will be transient and by 2020 we can expect the emergence of such a center," he said.

The forum was attended by over 200 representatives of the financial institutions of the CIS countries in Asia and Europe, and the USA.

For two days in plenary sessions they will discuss the role of financial institutions in the development of domestic capital markets and economic unions in the CIS, new opportunities for banks in the CIS free trade zone, the prospects for cooperation between the countries of the CIS and other countries with the countries of the Common Economic Space canoes in the investment and development of the institutions involved in the promotion of small and medium-sized businesses in the CIS, the mechanisms and prospects for investment in infrastructure projects and transnational CIS products of Islamic finance, Islamic Banking, etc.

Traditionally, the conference has undergone a cultural program as well as a reception. - 15C -