Financial news

The Turkish bank switch over to rouble settlement with Russia

23 апреля 2009 г.

The Turkish bank Garanti switch over to rouble settlement with Russia.

According to the announcement of the bank, the companies which have import and export relationships with Russia will be able to open rouble accounts in the bank and carry out the transactions of exchanging of Russian currency to other currency.

The initiative of switching over to settlement in national currencies was stated in the frame of the visit of the President of Turkey Abdullah Guhl in Moscow in February of the current year. The members of the local business groups, labor unions and business unions supported this perspective, considering it to be profitable in transactions with the Russian side.

According to the director of Garanti Ergun Ozen, the established system in Turkey and the technological infrastructure of mutual settlements in roubles will simplify the process of transactions between companies. The relevant basis was worked out even on the level of governmental agencies. Meanwhile it’s noted that for more productive relations between Russian and Turkish exporters and importers it’s necessary to improve the legal basis.

Garanti was the first Turkish bank that created favourable conditions for rouble settlement. Since 1995 the branch office of Garanti Bank Moscow has been working in Moscow, trough which, in particular, major investment payments and transactions pass.
 

» к списку

Read more