Azerbaijan, South Korea seal banking cooperation deal

The Azerbaijan Banks Association (ABA) and the Korea Federation of Banks (KFB) have signed a Memorandum of Understanding (MoU) aimed at expanding bilateral cooperation in the banking sector.

The agreement was signed during the ABA delegation’s visit to South Korea, Caliber.Az reports, citing the association.

ABA President Zakir Nuriyev and KFB Chairman Cho Yong-byoung signed the document, with ABA Executive Director Yunus Abdulov and a representative of the Central Bank of Azerbaijan also attending the ceremony.

According to the Association, “the signed memorandum envisions strengthening institutional partnership in the banking sector, expanding the exchange of advanced international expertise and information, organizing joint initiatives in digital banking and innovative financial technologies, as well as studying global practices and facilitating expert exchange in the banking field.”

The ABA noted that the memorandum opens new opportunities for launching joint projects, organizing training programs and seminars, and ensuring more structured cooperation between the two sides.

Additional bilateral meetings with financial institutions are planned as part of the visit.

By Vafa Guliyeva