OREANDA-NEWS. April 24, 2009. The seminar on the traditional form of interbank relations – correspondent business was conducted in the Turkmen capital. The forum organized by the Commerzbank AG Representative Office in Ashgabat with the assistance of the Central Bank of Turkmenistan brought together the specialists of the state, joint-stock and commercial banks of the country.

Opening the meeting the German partners expressed gratitude to the President and the Government of Turkmenistan for providing assistance in organizing the workshop that was of special significance for expanding Turkmen-German cooperation and further improving the national financial system through applying the international norms and standards as well.

During the seminar the experts of the Commerzbank AG – the second largest bank in Germany rendering services to international corporations across Europe made presentation on its activity focused on the issues related to correspondent business – one of the forms of interbank relations, the role of which had increased in recent years. In the modern world correspondent business were viewed as an instrument to lessen the risk to banking operations, important source of additional income and incentive to expand cooperation among banks.

Summing up the seminar the participants exchanged views on the ways to further intensify cooperation among the banks in Turkmenistan and Commerzbank AG (FRG) which had opened the representative office in Ashgabat.