BAFT Delivers International Workshop for Azerbaijani Banks

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2021-04-15
The main program of the workshop is dedicated to the establishment and support of correspondent banking relations based on international experience.

Kapital Bank and BAFT (The Bankers Association for Finance and Trade), a subsidiary of the American Bankers Association, organized a Virtual Correspondent Banking Workshop on 13-14 April 2021. The event was delivered with the support of the Central Bank of the Republic of Azerbaijan.

The main program of the workshop is dedicated to the establishment and support of correspondent banking relations based on international experience. This topic was presented for the first time in the region and the workshop was delivered by experts from global banks in the United States and Europe. Fifty specialists from 20 local commercial banks and representatives of foreign banks operating in Azerbaijan attended the event.

BAFT President & CEO, Tod Burwell and General Director of the Central Bank of the Republic of Azerbaijan, Toghrul Aliyev, who attended the opening of the workshop, mentioned the international significance of the event and stressed their support for international cooperation in this area.

Farid Huseynov, First Deputy Chairman of the Board of Kapital Bank, one of the initiators of the project, said the seminar would support local banks in learning more about the practice of correspondent banking at the international level, as well as to strengthen and increase the capacity of Azerbaijani banks.

The program covered new global trends and best practices in correspondent banking including the organization of work with internal and external stakeholders, the coordination of partnership selection and its alignment with bank strategy, how to manage expectations, the identification of potential risks in this process, and the development and management of cooperation amongst banks. IT, cybersecurity, and digital considerations were also included in the event program.

Kapital Bank, the country's first bank, is part of PASHA Holding. Kapital Bank has the largest service network in Azerbaijan with 102 branches and 19 departments all over the country. For more detailed information about the Bank’s products and services, please refer to www.kapitalbank.az website, 196 Call Centre or the Bank’s various social network pages.