The Central Bank of Azerbaijan and the Central Bank of Sudan have signed a memorandum of understanding aimed at strengthening cooperation in monetary and financial sectors.

The agreement was reached during a meeting between Central Bank of Azerbaijan Governor Taleh Kazimov and a Sudanese delegation led by Amina Mirghani on the sidelines of the 51st Annual Meeting of the Islamic Development Bank Group in Baku, The Caspian Post reports via the Central Bank of Azerbaijan.

During the talks, the sides discussed macroeconomic conditions, improving the transmission mechanisms of monetary policy, expanding correspondent banking relations, and promoting financial inclusion.

The newly signed memorandum outlines expanded cooperation in several key areas, including monetary policy, financial sector development, payment systems, fintech innovation, banking supervision, and measures to combat money laundering and terrorist financing.

The agreement also envisions joint activities such as expert meetings, seminars, knowledge exchange programs, training initiatives, and official study visits between the two countries.