Deposit Insurance Funds of Azerbaijan and Turkey sign memorandum of understanding

The Deposit Insurance Fund of Azerbaijan, which attaches great importance to international cooperation, expands ties with international organizations and relevant bodies of different countries to improve mechanisms for the protection of deposits, study the best practices of leading countries in the development of deposit insurance systems in our country.

According to Report, in this regard, Azerbaijan, which pays special attention to further expansion of cooperation, has established close ties with brotherly Turkey, especially in the financial and banking sector.

In order to deepen cooperation, a memorandum of understanding was signed between the Deposit Insurance Fund of Azerbaijan (ADIF) and the Savings Deposit Insurance Fund of Turkey (TMSF). The Memorandum was signed by ADIF executive director Tural Piriyev on the Azerbaijani side and TMSF Chairman of board Fatin Rushtu Karakash on the Turkish side.

The memorandum of understanding will contribute to joint cooperation between ADIF and TMSF in the field of deposit insurance.

As part of the exchange of experience, from today until May 13, the staff of the ADIF structural units for finance, archives, risk, and international and public relations will join training conducted by experienced TMSF staff.