The Central Bank of Azerbaijan (CBA) and the Central Bank of Sudan (CBS) have signed a Memorandum of Understanding (MoU) to formalize cooperation between the two financial institutions.
According to the Operative Information Center-OMM, citing the CBA, the agreement was finalized during the 51st Annual Meetings of the Islamic Development Bank Group held in Baku. Taleh Kazimov, Chairman of the CBA, met with a delegation led by Amna Mirghani, Governor of the Central Bank of Sudan, who was visiting Azerbaijan for the first time.
During the discussions, the parties reviewed macroeconomic conditions and development trends, mechanisms for improving monetary policy transmission, the deepening of correspondent banking relations, and strategies for expanding financial inclusion.
The signed Memorandum serves to strengthen the institutional and legal foundations of cooperation between the two central banks. It promotes the exchange of advanced practices and expertise in central banking operations. Under the agreement, the institutions will deepen collaboration in areas such as monetary policy, the financial sector, payment systems, financial technologies, banking supervision, and anti-money laundering and counter-terrorist financing (AML/CFT) efforts. This cooperation will be facilitated through joint meetings, seminars, experience exchanges, training programs, and professional visits.
The Islamic Development Bank Group's Annual Meetings, which hosted this event, serve as a significant platform for fostering economic integration and financial cooperation among member states. By aligning with international partners like the Central Bank of Sudan, Azerbaijan continues to strengthen its role in global financial networks and Islamic banking frameworks.
