Azerbaijan, US to hold second talks on banking regulation

Azerbaijan, US to hold second talks on banking regulation 111
Finance
May 7, 2025 14:27
Azerbaijan, US to hold second talks on banking regulation

The United States–Azerbaijan Chamber of Commerce (USACC) and the Azerbaijan Banks Association (ABA) have announced the Second Azerbaijan Banking Mission to the United States, Report informs via the USACC.

“Enhancing Banking Compliance & Financial Integrity: Azerbaijani–US Regulatory Exchange Mission” will take place from May 19 to May 23, 2025, in Washington, D.C. and New York City.

This mission aims to strengthen financial sector engagement between Azerbaijani banks and US regulatory agencies, leading financial institutions, and industry experts.

In recent years, banking and financial sector cooperation between Azerbaijani and US banks has expanded significantly, creating new opportunities to advance trade and business ties. Growing confidence in Azerbaijan's banking system and the increasing professionalism of its financial institutions have played a vital role in establishing robust correspondent banking relationships with American banks.

Azerbaijan is the leading investor in US financial markets from the South Caucasus region. The country's investments in the US financial markets underscore its commitment to deepening economic and financial linkages with the United States.

The Second Azerbaijan Banking Mission builds on this expanding partnership. The program is designed to strengthen the professional capacity of Azerbaijani compliance officers, foster knowledge exchange, enhance compliance practices, promote financial sector integrity, and support alignment with international regulatory standards.

In 2024, USACC and ABA successfully organized the First Azerbaijan Banking Mission to the United States, led by the Governor of the Central Bank of Azerbaijan and attended by top executives from 11 leading Azerbaijani banks.

As part of this mission, the prospects of cooperation with the US International Development Finance Corporation (DFC), the US Export-Import Bank (Exim Bank), the US Department of Commerce Bureau of Industry and Security, as well as Bank of New York Mellon Corporation were discussed.

In addition, during the visit, Azerbaijani TuranBank opened a dollar correspondent account at Habib American Bank. In the same year, Kapital Bank and Xalq Bank also began cooperation with Bank of New York Mellon Corporation, opening their correspondent accounts there.

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