Azerbaijan, Bahrain explore stronger banking ties

Azerbaijan and Bahrain are exploring deeper financial cooperation through potential correspondent banking relationships.

Representatives from Bahrain’s largest bank, Arab Banking Corporation (Bank ABC), held talks with the Central Bank of Azerbaijan (CBA) to discuss strategic initiatives for the country’s financial sector, Caliber.Az reports citing local media.

The meetings included CBA executive directors Fuad Isaev, Tarlan Rasulov, and Elrad Seydiyev.

Discussions focused on establishing correspondent banking links between Azerbaijani and Bahraini banks, expanding interbank operations, and measures to enhance capital market cooperation.

Azerbaijan and Bahrain established diplomatic relations on November 6, 1996. While trade between the two countries remains relatively modest, it has been growing: according to Azerbaijani data, bilateral trade turnover reached about US$2.24 million in 2022. 

Economic cooperation spans a number of sectors. Government officials in both countries have discussed partnerships in trade, investment, energy, and finance.

Bahrain, as a Gulf financial hub, is seen as a potential source of capital for Azerbaijani non-oil sectors, while Azerbaijan’s growth and strategic location offer attractive opportunities for Bahraini investors. 

In 2025, the two foreign ministers held conversations on deepening economic, trade, and cultural cooperation, reflecting a shared interest in expanding business ties.

They also signed a visa‑exemption agreement for diplomatic passport holders, easing diplomatic and business travel.

By Aghakazim Guliyev