April 2020, ASIA ALLIANCE BANK and Asian Development Bank’s (ADB) Trade Finance Program (TFP) signed an agreement providing guarantees to support trade in the country.
Backed by ADB's AAA credit rating, TFP provides guarantees and loans to over 200 partner banks to support trade, enabling more companies throughout Asia and the Pacific to engage in import and export activities.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members - 9 from the region.
Within the framework of the Agreements signed in 2018 between the JSB «ASIA ALLIANCE BANK» and the International Bank for Reconstruction and Development, as well as the International Development Association nowadays the projects “Improving the energy efficiency of industrial enterprises” (12.0 million US dollars), “Development of the horticultural sector in the Republic of Uzbekistan” (10.0 million US dollars) and “Development of the livestock sector in the Republic of Uzbekistan” are being actively implemented (10.0 million US dollars).
In 2019, the Bank signed an agreement on opening a correspondent account in US dollars with one of the leading US banks - Bank of New York Mellon. The agreements reached on cooperation with the world's leading bank contribute to the expansion of activities in the field of international settlements, the development of international money transfer services, as well as the strengthening of the international status of the bank. The presence of a direct correspondent account in US dollars will allow the Bank's clients to carry out mutual settlements, as well as reduce payment costs, completely avoiding paying commissions from the third banks.
In 2013, "ASIA ALLIANCE BANK" established mutually beneficial partnership with one of the largest banks of Switzerland – UBS Switzerland AG (www.ubs.com). Presently, we are actively cooperating in the sphere of trade finance operations and dealing on a money market.
In September, 2013 following the mission to support SME’s projects in the Republic of Uzbekistan "ASIA ALLIANCE BANK" has concluded Line of financing Agreement with Islamic Corporation for the Development of the Private Sector (ICD - www.icd-idb.com), a member of Islamic Development Bank Group (IDB).
Through ICD’s Line of Facility "ASIA ALLIANCE BANK" is financing customers, in accordance with terms and conditions defined here.
In June, 2018 "ASIA ALLIANCE BANK" has concluded a Line of trade financing Agreement amounted to USD $9 million with an International Islamic Trade Finance Corporation (ITFC- www.itfc-idb.org) a member of Islamic Development Bank Group (IDB). Within the line of financing, import contracts is planned to be financed for the supply of equipment and / or raw materials of enterprises whose main business does not contradict the principles of Islamic Sharia. Through ITFC Line of Facility. "ASIA ALLIANCE BANK" is financing customers in accordance with terms and conditions defined here.
"ASIA ALLIANCE BANK" signed the Basic Loan Agreement with Commerzbank AG (www.commerzbank.de) to finance the private sectors and SMEs in the Republic of Uzbekistan. As part of this credit line, financing is provided to ASIA ALLIANCE BANK customers for the purchase of fixed assets from Germany and other OECD countries with insurance cover of the export credit agency (ECA) «Euler Hermes». Through Commerzbank AG Line of Facility. "ASIA ALLIANCE BANK" is financing customers, in accordance with terms and conditions defined here.
"ASIA ALLIANCE BANK" signed the Basic Loan Agreement with Landesbank Baden-Wurttemberg to finance SMEs in the Republic of Uzbekistan. This credit facility will support import of capital goods from European Union under cover of «Euler Hermes». Through Landesbank Baden-Wurttemberg Line of Facility. "ASIA ALLIANCE BANK" is financing customers, in accordance with terms and conditions defined here.
JSCB “ASIA ALLIANCE BANK” performs financing of import projects with participation of German Agency Euler Hermes which is on of the biggest company in the world specialized in export credits insurance.
The bank has opportunity to perform financing in the form of direct banking crediting in foreign or national currencies. Nevertheless, more profitable form is import operations financing using implements of external funding within the framework of credit agreements and credit lines with foreign banks, including participation of export credit agencies.
External audit of the bank annual financial statements is performed by recognized audit companies PWC, DELOITTE and EY. For more than 100 years, "PricewaterhouseCoopers", "Deloitte and Touche " and "EY", have provided audit, tax, consulting and corporate finances services for state and private companies operating in various industries of economy. These companies are included in the “big four” list.
Since November 2011 the bank has obtained ratings of the international rating agency Moody’s Investor Service. International rating agency Moody’s Investors Service exists since 1900. Moody’s Investors Service is one of the most respected and widely used sources of credit ratings, analytic researchers and materials related to risk analysis.
In May 2011 the bank became member of international payment system Visa. Organization plays key role in development of innovative payment products and technologies. Visa cards are accepted for payment in sales outlets in more than 200 countries of the world.
MasterCard is an international payment system and transnational financial corporation, which unites 22 thousand financial institutions in 210 countries of the world.
The bank has established partnership with the China national payment system - UnionPay and in February 2014 started issuance of plastic cards UnionPay. Due to the wide card prevalence in China and South-East countries, cards became the most popular payment facility both in big cities and in provinces.
The Bank is a partner of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT provides a network that enables to transmit information and to perform payments. SWIFT established in 1973. Each day SWIFT processes more than one million transactions on money transfers, interbank payments, securities.