On April 22, 2024, the first business trip of the Azerbaijan Banking Mission to Washington, USA, commenced. The delegation includes leading representatives from the Central Bank of the Republic of Azerbaijan (CBA), the Azerbaijan Banks Association (ABA), as well as chairmen from several banks.
On the second day of the mission, a round-table meeting titled “Access to DFC financing: policies and regulations” was held at the headquarters of the US International Development Finance Corporation (DFC).
During the meeting, attendees discussed potential areas for cooperation with DFC and highlighted the sectors DFC is interested in financing. Shakir Rahimov, Chairman of the Supervisory Board of “Bank Respublika” OJSC, also delivered a presentation on “Azerbaijani Banks’ cooperation with DFC”.
The Azerbaijan banking mission held its next meeting with “Exim Bank, focusing on expanding cooperation through operations supported by Exim. The briefing covered topics such as environmentally friendly energy technologies, aviation, agricultural machinery, and technology.
At the meeting, Abbas Ibrahimov, Chairman of the Board of Directors of “ABB” OJSC, delivered a presentation on the subject. Following the presentation, participants of the mission engaged in discussions regarding potential cooperation opportunities with the institution.
Abbas Ibrahimov delivered a presentation during the briefing on “Trade Financing Tools: Alternative Trade Financing Instruments for Azerbaijan” held in collaboration with the Office of Finance and Insurance Industries (OFII), Bureau of Industry and Security of the International Trade Administration of the US Department of Commerce. Following the presentation, discussions took place regarding potential cooperation opportunities with this institution.
On that day, the mission participants engaged in a one-on-one meeting with “Bank of New York Mellon” (BNY Mellon).
At the meeting hosted at the Honeywell Technology and Experience Center, BNY Mellon executives delivered presentations and speeches regarding lending opportunities, risk management, compliance, and the utilization of artificial intelligence in banking operations. They also addressed questions from the mission participants.
It is worth noting that the Azerbaijan Banks Association (ABA) was established in 1990 by commercial banks. The primary objective of ABA is to safeguard the interests of its member organizations, provide assistance in fulfilling their requirements for various types of business services, and coordinate their activities. Presently, ABA boasts a membership comprising 23 banks, 2 non-bank credit organizations, and 4 other organizations, totaling 29 entities.
