The Azerbaijan Banking Association (ABA) and the Participation Banks Association of Turkiye (TKBB) signed a memorandum of understanding (MoU) on June 13, 2023 to support the development of the participation finance sector in Turkiye and Azerbaijan.

The agreement aims to promote the common interests of the parties through mutually beneficial cooperation between their member organizations. According to the agreement, ABA and PBAT decided to work together to organize seminars, forums, conferences and other events related to developments in participation banking and finance. With this cooperation, it is aimed to organize joint training and exchange programs, facilitate information sharing and contribute to direct correspondent relations between participation banks between Turkey and Azerbaijan.

TKBB and ABA are also members of the Council of Banking Associations of Member States of the Organization of Turkic States (CBATS), which was founded in Istanbul on November 4, 2022.

For Press Release: https://tkbb.org.tr/haber/tkbb-ve-aba-katilim-finans-sektorunun-gelisimini-desteklemek-icin-guclerini-birlestirdi-127968

ABA Webpage: https://aba.az/