On July 2, 2026, the 22nd meeting of the Council of the Interbank Association (IBA) of the Shanghai Cooperation Organisation was held in Cholpon-Ata under the chairmanship of Ulanbek Nogaev, Chairman of the Management Board of OJSC "Eldik Bank".
The meeting was attended by heads of the management boards of the IBA member banks and a delegation from the SCO Secretariat. Representatives of an Iranian financial institution were invited to the event as guests.
The participants discussed issues of interbank cooperation development, expansion of joint financing instruments, and enhancement of the effectiveness of investment interaction. They adopted SCO IBA Development Strategy for 2027–2031 and established, and a working group on ESG, sustainable and socially inclusive financing was established.
The participants were briefed on the activities of the Iranian financial institution.
The chairmanship of the SCO IBA will pass to the Pakistani side starting from October 2026.
Following the meeting, a Protocol was adopted.
The SCO Interbank Association was established in accordance with the Agreement on Interbank Cooperation (Association) within the SCO of October 26, 2005. It serves as a mechanism for financing and banking support of investment projects that are backed by the governments of the Organisation's member states in priority areas of cooperation. From October 2025 to October 2026, OJSC "Eldik Bank" holds the chairmanship of the SCO IBA.