MOSCOW, April 18. /TASS/. Novikom Bank, a subsidiary bank of the Rostec state corporation, the Central Bank of Cuba and two of the republic's largest commercial banks, have signed agreements on organization of settlements in rubles through accounts in Novikom Bank, the Russian bank’s press service reported.
The document was signed on the sidelines of the 22nd meeting of the intergovernmental Russian-Cuban commission on trade, economic, scientific and technical cooperation in Havana.
"The conclusion of agreements on settlements in rubles will expand the list of Cuban banks that will be able to make settlements in rubles through accounts in Novikom," the statement says.
According to Yelena Georgieva, Chairman of the Board of Novikom Bank, in recent years Russia and Cuba have made significant progress in economic cooperation.
Russia’s Mir payment system has begun operating on the island, the tourist flow in both directions is growing, the presence of domestic companies in the republic is expanding, while the volume of Russian investment is increasing.
"We are pleased that we can contribute to the development of relations between our countries and are confident that cooperation with the leading banks of the republic will be fruitful for both states," Georgieva noted.
Earlier, Novikom provided the ability to make payments between legal entities of the two countries, and also provided its retail clients with the opportunity to transfer funds in rubles to individuals in the island state. In December last year, the bank launched transfers to the Republic of Cuba through a mobile application. Also in 2024, Novikom became the first Russian bank to open a representative office in Cuba. The bank has been working with Cuban banks since 2016, providing settlement interaction between various companies of the two countries in the areas of tourism, transport, fuel and energy complex and other areas of activity.