By Trend

The signing of the agreement on the establishment of the Banking Unions Council of the Turkic States was held in Istanbul, Türkiye, Azerbaijan Banks Association told Trend.

Alpaslan Cakar (Chairman of the Board of the Turkish Banking Union), was elected Head of the organization, and Zakir Nuriyev (President of the Azerbaijan Banks Association) was elected Deputy Head.

The main directions of the Council's activity include the expansion of goods and services between the member countries of Turkic-speaking states, the creation of correspondent relations between financial institutions of Turkic-speaking countries, and the improvement of financial services infrastructure on the basis of modern information technologies and international standards.

The first meeting of the Council was held after its establishment.