OREANDA-NEWS. August 20, 2010. Asia-Invest Bank joint-stock commercial bank extended credit line for loan-deposit and trade financing operations to InFinBank private open joint-stock commercial bank.

Asia-Invest Bank is an official financial agent for the Republic of Uzbekistan on the territory of Russian Federation. It performs such functions as servicing commodity turnover between Russia and Uzbekistan total worth over USD1.5 billion a year, making calculations on the delivery of Uzbek major export products to Russian markets (automobiles, non-ferrous metals, agricultural products, etc).

Asia-Invest bank is also authorized to settle payments between residents of Russian Federation and residents of the Republic of Uzbekistan in Uzbek national currency - soums. The bank is a consulting center for the participants of Uzbek-Russian commodity turnover on legal issues in foreign trade.

To be noted, Asia-Invest bank is a participant of sessions of Intergovernmental Commission for Economic Cooperation between Russian Federation and Uzbekistan.

In accordance with the agreement between Russia and Uzbekistan "On mutual long term deliveries of cotton to the Russian Federation and necessary material-technical resources to the Republic of Uzbekistan" dated 11 December 1999, Asia-Invest bank operates as settlement bank.