Azerbaijani and Turkish Bank Associations to Sign Agreement on Cooperation

Business Materials 4 August 2008 17:40 (UTC +04:00)

Azerbaijan, Baku, 4 August / Trend orr. I.Kgalilova / A visit of Turkish Bank Associations delegation is expected to Azerbaijan in the second half of August to sign an agreement on cooperation between Azerbaijani and Turkish Bank Associations, Eldar Ismayilov, the President of Azerbaijani bank Associations, said.

According to Ismayilov, the delegation will meet with Azerbaijani banks, which were established through the Turkish capital. Delegation unites largest Turkish banks.

At present, there are two banks with Turkish capital in Azerbaijan - Yapi Kredi Banki and Azer-Turk Bank. Turkish Ish Bankasi wants to open its branch in Azerbaijan to extend its operations in the country. No appeal has been made to the National Bank of Azerbaijan for this purpose.

Bank Associations arrange relations with banks to exchange information about the bank systems in other countries. Azerbaijani bank Association has already reached agreement on cooperation with the Bank Associations of Ukraine, Belorussia and Latvia.

On 4 August, the official currency rate is 0,809 AZN/USD.

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