UAE Banks Federation signs MoU with the Azerbaijan Banks Association to enhance cooperation

UAE Banks Federation signs MoU with the Azerbaijan Banks Association to enhance cooperation

Abu Dhabi, United Arab Emirates: UAE Banks Federation, the representative and unified voice of banks in the UAE signed a Memorandum of Understanding (MoU) with the Azerbaijan Banks Association, the umbrella organisation of banks and financial institutions in the Republic of Azerbaijan, on 15th February to enhance cooperation and exchange of experiences and promote the growth of the financial and banking sectors in both countries.

The MoU was signed by Mr. Jamal Saleh, Director General of UAE Banks Federation, and Mr. Zakir Nuriyev, President of the Azerbaijan Banks Association, to further strengthen ties and develop the business of the financial and banking institutions of both sides under the direct supervision and guidance of the Central Bank of the UAE and the Central Bank of Azerbaijan.

The scope of the MoU includes organising various activities in the finance and banking sector jointly by both parties in order to exchange knowledge and experience through events such as workshops, training and awareness programmes.

Since its establishment in 1990, the Azerbaijan Banking Association, which includes 31 banks and two financial institutions, has been working to represent banks operating in Azerbaijan, develop their banking operations and improve legislation to support the sector.

Commenting on the signing of the MoU,