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Azerbaijan Banks Association joins Sustainable Banking and Finance Network

Finance Materials 2 February 2023 13:46 (UTC +04:00)
Azerbaijan Banks Association joins Sustainable Banking and Finance Network
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 2. Azerbaijan Banks Association (ABA) has joined the Sustainable Banking and Finance Network (SBFN), Trend reports via the SBFN.

According to the SBFN, Azerbaijan Banks Association’s membership covers all 25 banks in the country, 2 non-banking credit organizations, 2 processing centers, and the Azerbaijan Credit Bureau.

The SBFN said that the ABA's goal is to promote Azerbaijan's economic growth by enhancing banking legislation, forging international ties, and building a strong infrastructure for the banking industry.

"SBFN and IFC look forward to supporting ABA as it makes progress in developing a sustainable finance framework and engages with other stakeholders in the country to enhance the development of sustainable finance in Azerbaijan," said the statement.

SBFN also added that in collaboration with the Swiss State Secretariat for Economic Affairs SECO, IFC carries out its Program on Promoting Investment via Integrated Environmental, Social, and Governance Standards in Europe.

Established in 2012, SBFN is a voluntary community of financial sector regulators, central banks, ministries of finance, ministries of environment, and industry associations from emerging markets committed to advancing sustainable finance for national development priorities, financial market deepening, and stability.

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