On November 11, 2020 on the invitation of the Association of Banks of Uzbekistan, the regular meeting of the International Coordinating Council of Banking Associations (International Banking Council, IBC) was held in a video conference mode.

The meeting was attended by members of the IBC and heads of banking associations and unions involved in the work of the Council, representing the Association of Banks of Russia, the Association of Belarusian Banks, the Association of Banks of Uzbekistan, the Association of Banks of Azerbaijan, the Association of Banks of Armenia, the Association of Banks of Georgia, the Union of Banks of Kyrgyzstan, the Association of Banks of the Republic of Kazakhstan, the Association of Banks of Montenegro, the Association of Banks of Bosnia and Herzegovina, the Association of Banks of Central and Eastern Europe, the Association of Banks of Ukraine, the Eurasian Financial and Business Association.

Alexander Murychev, Chairman of the IBC and Chairman of the Executive Board of the FBA EAC, reported on the results of the work for three years and introduced the participants to the current economic situation in Russia and the measures taken by the government and the regulator to overcome the consequences of the new corona virus infection.

He noted that there is a surplus of liquidity in the banking system and growth of banks' loan portfolios and their assets. Profit of credit institutions for 9 months amounted to 1 trillion 100 billion rubles. "Now one of the main problems of banks is asset restructuring. At the end of October this year the volume of restructured assets amounted to more than 4 trillion rubles. For individuals, banks restructured 1 million 600 thousand loans, which reduced the negative effect on business", - said Alexander Murychev.

As an organizer, General Director of the Association of Banks of Uzbekistan Bakhtiyar Hamidov told in detail about the aspects of economic and banking sector development in the country, about the reforms carried out by President Shavkat Mirziyoev and the government.

He delivered a report on the main topic - "Digitalization as the main requirement for the development of modern financial and banking system in the conditions of overcoming the pandemic. Bank development strategy in the post-crisis period" - spoke Alexey Voilukov, Vice-President of the Association of Russian Banks. He noted that in connection with the pandemic, the banking community's proposals on the process of remote customer service, including customer identification and a number of other measures to establish information about customers, proved to be relevant. During the quarantine period, credit institutions were temporarily allowed to open current accounts with SMEs and individuals in certain cases, subject to their subsequent appearance for identification. "Banks are interested in taking this practice into account even after the end of the loosening period of the pandemic, but to date there is no positive regulatory decision on this issue. To further advance the process of remote customer service, it is necessary to develop remote identification channels, including videoconferencing. The Association is actively working on this issue. The experience gained in the implementation of this approach opens up the possibility of legislative changes to remove the barrier to the transition to a digital economy," said Alexey Voylukov.

Oleg Berezovoy, General Director of the FBA EAC, spoke on behalf of the FBA EAC. In his speech he recalled the stages of joint cooperation over the past three years and drew the participants' attention to the prospects for cooperation in new areas. These include the expansion of leasing programs, the use of the best resource and energy-saving technologies, and the introduction of optimal environmental management mechanisms into production processes. Oleg Berezovoy also called for more active cooperation in the development and promotion of the Eurasian Financial and Economic Bulletin, a multi-profile publication covering various business areas.

The meeting participants unanimously voted in favor of extending the powers of the current management of the IBC. For the next three years Alexander Murychev was elected Chairman of the IBC, Bakhytbek Baiseitov, President of the Association of Banks of the Republic of Kazakhstan, Istvan Lendiel, Secretary General of WASEE, Elena Korobkova, Executive Director of the Independent Association of Banks of Ukraine, Zakir Nuriyev, President of the Association of Banks of Azerbaijan, Bratislav Peyakovich, Secretary General of the Association of Banks of Montenegro, were elected Deputy Chairmen.

At the invitation of the Association of Banks of Central and Eastern Europe, it was decided to hold the next IBC meeting in Budapest in May 2021. The theme of the future meeting is "Prospects for small and medium-sized banks. Challenges and solutions".