Source: National Settlement Depository
National Settlement Depository (NSD), Russia’s central securities depository, has signed an agreement to connect Kyrgyzstan’s Bank of Asia to SWIFT via NSD’s service bureau.
Alexander Nam, NSD’s Managing Director for Technological Services, said: “We are very happy that the Bank of Asia chose NSD to use the SWIFT system. Our attention has been always focused on providing our clients with high quality and reliable services, as well as optimal fees for these services. We see great potential for developing financial technologies in Central Asia and we are ready to cooperate with our clients and partners in this region.”
Being a certified SWIFT service bureau, NSD provides its clients with safe and reliable access to all SWIFT services. Working via the service bureau allows clients to optimize costs as they do not need to install and support specialised software and equipment in their offices.
Myktykbek Shokenov, Member of the Management Board, Bank of Asia, pointed out: “Taking into account the high level of security and reliability of NSD’s infrastructure and our cooperative outlook, the Bank of Asia chose this company as a partner to connect to the SWIFT system. Our choice was made based on our partner’s great experience in this area and its flexible fee policy. We are also interested in NSD’s new digital projects, including blockchain. We hope that our cooperation will be long term and mutually beneficial.”
Contributed | what does this mean?