AGREEMENT OF COMMONWEALTH OF INDEPENDENT STATES

of December 5, 2012

About cooperation in the field of the organization of the integrated foreign exchange market of the State Parties of the Commonwealth of Independent States

The State Parties of the Commonwealth of Independent States which further are referred to as with the Parties

recognizing as priority task creation of the integrated foreign exchange market of the Parties,

in view of the Organizational bases and the principles of creation of the integrated foreign exchange market of the State Parties of the CIS approved by the Decision of Council of CIS Heads of Government of April 25, 2003

proceeding from need of creation of conditions for equal and mutually advantageous participation of resident banks of the Parties for making of conversion transactions with foreign currencies in the integrated foreign exchange market of the State Parties of the CIS,

agreed as follows:

Article 1

The terms used in this agreement mean:

the integrated foreign exchange market – set of the domestic foreign exchange markets of the Parties combined by the general principles of functioning and state regulation;

resident bank – the legal entity or other legal education which based on special permission (the license or other basis) competent authority of the state has the right to perform the banking activities provided by the national legal system of the relevant Party;

interbank conversion transactions – the transactions of purchase and sale of foreign currency performed by resident banks in the integrated foreign exchange market;

competent authorities – the Central (national) Banks and other state bodies of the Parties which according to the national legal system of the Parties perform currency control and banking supervision.

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