OREANDA-NEWS. On December 02, 2008 Public Bank Bhd has signed a money market deposits agreement with the Central Bank of the Republic of Uzbekistan.

In a statement, Public Bank said the agreement would facilitate placements of money market deposits by Uzbekistan's central bank with the Malaysian banking group.

It said the signing of the agreement was also testimony of its growing reputation of strong capital position and superior asset quality that had 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," it said.

This agreement was inked by the central bank deputy chairman Ravshan Abdukarimov and Public Bank managing director Tan Sri Sri Tay Ah Lek, witnessed by the central bank adviser to the chairman Murat Yakubjanov and Public Bank chief operating officer Wong Jee Seng.