Azerbaijan, UAE to develop correspondent relations to between banks

Azerbaijan and the United Arab Emirates (UAE) are planning to develop correspondent relations between their banks following the Memorandum on cooperation signed on Monday with the UAE Banks Federation, Report informs, citing the Azerbaijan Banks Association (ABA), Report informs.

The document also envisages the promotion of cooperation between the parties, the development of bilateral relations, the establishment of closer business relations between banking sectors, the organization of events, including joint education and training programs, the information exchange between banks which are the members of both organizations, etc.

The document was signed by Zakir Nuriyev, president of ABA, and Jamal Saleh, director general of the UAE Banks Federation.