The Interbank Association within the framework of the Shanghai Cooperation Organization Interbank Consortium (IBC SCO) was established in pursuance of the decision of the Council of Heads of Government of the SCO Member States on the establishment of a mechanism for the financial support and maintenance of investment projects in the economic area of the SCO member countries on October 26, 2005 (Agreement on Interbank Cooperation (Association) within the framework of the Shanghai Cooperation Organization.
The main activities of the SCO IBC are the organization of financing of investment projects, the development of interaction with authorized financial institutions of the observer states and partners in the SCO dialogue, cooperation with the leading economic structures operating in the SCO space (the SCO Business Council, the Eurasian Development Bank), the exchange of experience and cooperation in the field of personnel training.