Azerbaijan Banks Association seeks membership in Asian Financial Cooperation Association

An official application regarding the admission of the Azerbaijan Banks Association (ABA) Public Union as a member of the Asian Financial Cooperation Association (AFCA) has been signed, Report informs, citing ABA.

According to a statement, the leadership of the organization held a business meeting with the leadership of AFCA within the framework of an official visit to China. At the meeting organized by the Azerbaijan Bank and Finance Training Center, our country was represented by ABA President Zakir Nuriyev, Executive Director Yunus Abdulov, Chief Economist Azizagha Hakhverdiyev, and representatives of Azerbaijan's leading banks.

Nuriyev, who opened the meeting with an opening speech, and the leadership of AFCA greeted the participants and emphasized the strategic importance of cooperation between the financial institutions of the two countries. During the event, the AFCA leadership was provided with detailed information about Azerbaijan's current macroeconomic situation, financial stability indicators, and modern trends in the banking sector. At the same time, ABA's areas of activity, services provided to member banks, and international partnership projects were brought to attention. An agreement was reached between the parties on the implementation of joint projects, expansion of mutual experience and information exchange.

In addition, preliminary discussions were held regarding the hosting of one of AFCA's future international events in Azerbaijan. It was noted that such an initiative would make a significant contribution to strengthening regional financial cooperation.