New Pakistani banks may enter Azerbaijani market

Although the National Bank of Pakistan has closed its branch in Baku, other Pakistani banks are interested in the Azerbaijani market and are negotiating to open a branch here, the President of the Pakistan Azerbaijan Economic Cooperation Chamber (PAKAZCHAM) Khurram Bhatti told Report.

According to him, the two countries may also cooperate in the field of insurance:

"Negotiations are underway between Azerbaijan and Pakistan insurance associations, so they may sign a Memorandum of Understanding and cooperate. Insurance makes up a large part of the service sector. A meeting in this regard is planned to be held in December."

"Pakistani leasing companies are also interested in operating in Azerbaijan. Meetings in this regard are scheduled for February next year," Bhatti added.