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Turkish banking collaboration to bolster economic bonds with Turkic states

10 May 2024 11:20 (UTC+04:00)
Turkish banking collaboration to bolster economic bonds with Turkic states
Nazrin Abdul
Nazrin Abdul
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At the 4th meeting of the Council of Bank Associations of Turkic-Speaking States in Tashkent, hosted by the Uzbekistan Banks Association, Zakir Nuriyev, Vice-President of the Council, highlighted the pivotal role of joint efforts among Turkish banking communities in fortifying economic ties between nations, Azernews reports.

Nuriyev emphasized that the rapid organization of such gatherings underscores the high priority attached to this association, underscoring that banks and the financial sector serve as economic locomotives, propelling substantial progress. He pledged continuous support from the Council of Bank Associations of Turkic-Speaking States, including the Azerbaijan Bank Association, to foster this cooperation.

"Banks and the financial sector in general are the locomotive of the economy, and their association strongly supports the achievement and direction of significant progress in the economy. As the Council of Bank Associations of Turkic-Speaking States, including the Azerbaijan Bank Association, we will continuously support this cooperation."

Highlighting the dynamism of Azerbaijani banks as the driving force behind the country's economic development, Nuriyev noted advancements in both quantity and quality, particularly in digitalization.

Alpaslan Chakar, President of the Council, reflected on the journey of the council since its inception in 2022 in Istanbul, followed by subsequent meetings in Baku and Tashkent. The annual gatherings serve as forums to discuss pivotal economic issues relevant to the region.

During the conference's opening panel on "Financial trends - FinTech and banks, fight against fraud, popularization of Islamic banking," Alpaslan Çakar, CEO of Ziraat Bank, and Zakir Nuriyev, Vice-President of ABA, alongside leaders from member countries, delivered speeches.

Established on November 4, 2022, the Council of Bank Associations of Turkic-Speaking States aims to deepen existing economic relations among Turkic-speaking countries and foster closer ties within the financial and banking systems. The second meeting was held in Baku on June 13, 2023.

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