Sudan and Azerbaijan Sign MoU for Banking Cooperation
Sudan and Azerbaijan signed a memorandum of understanding for banking cooperation in Baku on Wednesday, as part of the Central Bank of Sudan’s efforts to open up to the world and reintegrate into the global banking system.
The signing ceremony took place between the Governor of the Central Bank of Sudan and his Azerbaijani counterpart, in the presence of Anas Al-Tayeb Al-Jilani, the Sudanese Ambassador to Azerbaijan.
During the ceremony, Amina Mirghani, Governor of the Central Bank of Sudan, emphasized the importance of the historical relations between Sudan and Azerbaijan and the commitment to developing them to serve the common interests of both countries. She highlighted the potential for opening up avenues for economic and trade cooperation to benefit commercial and economic interests, and to capitalize on available opportunities in the areas of exports and imports, as well as the exchange of economic benefits.
The Sudanese Ministry of Foreign Affairs stated in a press release that the memorandum of understanding signed today by the two governors provides a general framework for developing correspondent banking relationships, opening branches and banking windows for commercial banks in Sudan and Azerbaijan, and facilitating banking training and the exchange of expertise.
Taleh Kazimov, Governor of the Central Bank of Azerbaijan, affirmed his country’s support for Sudan in all international and regional forums. He noted that his meeting with the Governor and the signing of the Memorandum of Understanding between the two banks represent a first step towards building stronger and more robust relations to serve the commercial and economic interests of both countries. He urged Azerbaijani banks to establish correspondent banking relationships with Sudanese banks to facilitate interbank payments. He also confirmed their readiness to share expertise and experiences with staff of the Central Bank of Sudan and Sudanese commercial banks through short-term training programs and secondment initiatives to enhance practical training programs.
The signing of this memorandum comes within the framework of the growing bilateral relations between Sudan and Azerbaijan and represents a significant addition to the economic and financial cooperation between the two countries.