Azerbaijani and Turkish Commercial Banks to Discuss Cooperation Prospects

Business Materials 11 September 2008 18:34 (UTC +04:00)

Azerbaijan, Baku, 11 September / Trend corr. I.Khalilova /"Representatives of five Turkish banks arrives in Baku to improve contacts with Azerbaijani commercial banks," Farhad Aliyev, Executive Director of the Azerbaijani Bank Association (ABA), said. Ekrem Keskin, General Secretary of Bank Associations of Turkey, heads the delegation.

Eldar Ismayilov, Head of ABA, initiated Turkish delegation's visit to the country. Delegation includes representatives from Vakif Bank, Exim Bank, Turk Economy Bank, Turkiyye Sinaye Kalkimli Bankasi and Turkiyye Garanty Bankasi.

"This will be the first visit after signing of an agreement on cooperation between bank associations of Azerbaijan and Turkey in May 2008," Aliyev said.

The meeting of Azerbaijani and Turkish bank associations is scheduled for 12 September.

Delegation's visit in Baku will continue until 13 September.

At present, two banks with Turkish capital are operating in Azerbaijan. They are Yapi Kredi Banki and Azer-Turk Bank. The Turkish Ish Bankasi also intends to open its branch in Azerbaijan. No appeal on the issue has been made to the National Bank of Azerbaijan so far.

Bank associations improve relations in order to exchange point of views in banking system. ABA has already reached agreement on cooperation with bank associations of Ukraine, Belorussia and Latvia.

On 11 September, the official currency rate is 0.8159 AZN/USD.

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