The Savings Bank of Tajikistan Amonatbonk and Azerbaijani Azer-Turk Bank have signed a memorandum of understanding (MoU), the Amonatbonk press center reported on Tuesday.
The document was reportedly inked by top managers of the banks on April 4 in Dushanbe on the margins of the Tajikistan-Azerbaijan Investment Forum. After the document signing ceremony, the heads of the banks held a B2B meeting to discuss issues related to cooperation between Amonatbonk and Azer-Turk Bank, opening correspondent accounts, currency exchange, etc.
According to the State Committee on Investment and State-owned Property Management (GosKomInvest), the Chamber of Commerce and Industry of Tajikistan (ССI) and Azerbaijani National Confederation of Entrepreneurs (ASK) signed a memorandum of understanding (MoU).
More than 200 people from both side, including senior representaitves of relevant ministries and agencies as well as entrepreneurs, reportedly participated in the Tajikistan-Azerbaijan Investment Forum.
Amonatbonk is the only state-owned bank. Established in 1925, it is one of the oldest banks in Tajikistan and one of the largest based upon various criteria – including the number of branches and the number of served clients.
The institution is unique in its orientation towards implementing social, pension and other state programs. Amonatbonk has 5 regional centers, 69 branches and more than 500 agencies. This gives the institution a presence in the most remote mountainous parts of the country
The Azer-Turk Bank is Azerbaijani state-owned bank that provides retail and commercial banking services. It is an open joint stock company established on May 25, 1995 based on a license issued by the National Bank of Azerbaijan Republic.
Based on the banks license it can attract deposits, grant credits in its own name, as well as to perform transfers and settlement-and-cash transactions on behalf of clients. It can also carry out other types of activities stipulated by the Bank Law of the Azerbaijani Republic at its own or clients’ expense, excluding activities in the field of purchase and sale of precious metals and gems, attraction to deposit and placement of precious metals.
The Azer-Turk Bank maintains correspondence relations with banks of Turkiye, United States, England, Germany and Russia.
