Azerbaijan Banks Association, UAE Banks Federation ink memorandum of co-op

Finance Materials 20 February 2023 17:42 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 20. The Azerbaijan Banks Association (ABA) and UAE Banks Federation signed a memorandum of cooperation, Trend reports via the ABA.

It is planned to develop correspondent relations between the banks of Azerbaijan and the UAE as part of the memorandum. The document was signed by ABA President Zakir Nuriyev and CEO of the UAE Banks Federation Jamal Saleh.

The memorandum provides for the establishment of closer business ties between the banking sectors of the two countries, including holding events including joint educational and training programs, and the exchange of information between member banks of both organizations, etc.

Azerbaijan Banks Association (ABA) was founded by the initiative of 10 private banks in 1990 and was registered with the name of “Azerbaijan Commercial and Cooperative Banks Association”.

The main purpose of the association is to protect the interests of member organizations, assist in meeting their needs in various types of business services, and coordinate their activities. The Azerbaijan Banks Association’s members are 25 banks and 5 non-banking organizations.