Although the SCO has made a series of notable progressions since starting collaboration in the financial area，they are slow in comparison with those in the trade area and the SCO’s finanical collaboration confronts many challenges. In terms of the four aspects：institutional construction，project financing，collaboration bewteen financial institutions and monetary collaboration，this paper comprehensively probes into the monetary situation of the SCO’s financial collaboration，and further analyses the challenges the SCO’s financial collaboration faces and its potential for development. In spite of relatively many challenges，the SCO’s financial collaboration，its potential for financial collaboration remains relatively great，with member states enjoying the advantages of their geographical positions，the optential of their economic growth and China’s strategy of the “Silk Road Economic Belt” both creating favorable conditions for in-depth progress in the SCO’s financial collaboration.