BAKU, Azerbaijan, October 13. Kyrgyzstan’s DosCredobank is interested in establishing correspondent banking relationships with Azerbaijani banks and integrating payment solutions, CEO of DosCredobank JSC, Talantbek Omuraliev, told Trend on the sidelines of B2B meetings held as part of a fintech mission involving representatives from Turkic states, an event organized in Baku by the Turkic States Fintech Alliance (TÜRKFİN).
"DosCredobank is currently a leader in the fintech sector. We have a mobile app, Simbank, used by approximately 700,000 people, and we have plans for further expansion.
We are very interested in today's event. We are seeking opportunities for integration and collaboration among Turkic-speaking states, especially given that Azerbaijan is currently investing heavily in Kyrgyzstan. We have numerous joint projects, and the Kyrgyz-Azerbaijani Development Fund is active; its capital was recently increased to $200 million.
We see cooperation intensifying, which creates opportunities to expand in both the tourism and, likely, business sectors. Banks need to be prepared for this and look for ways to integrate and implement joint solutions.
Today's platform enables us to bring participants together and discuss bilateral and potentially multilateral projects involving not only Azerbaijan and Kyrgyzstan but also other Turkic states. In this context, Baku serves as the focal point for this cooperation. We hope for future meetings, opportunities, and projects," he said.
According to Omuraliev, bank representatives explored cooperation opportunities with local companies during B2B meetings.
"Meetings took place today, and we are currently assessing the possibilities. There is interest, for instance, in establishing correspondent banking relationships with Azerbaijani banks; we would certainly be interested in pursuing this if there is reciprocal interest. We are also interested in integrating payment solutions and are exploring opportunities to do so," he added.
The "Baku Fintech Sector Trade Mission" program, organized by TÜRKFİN, is taking place in Baku. Representatives from the financial and fintech sectors of Azerbaijan, Türkiye, and Kazakhstan are participating in the event.
The program includes discussions on the prospects for the development of digital payments in Turkic states, the harmonization of approaches to the regulation of financial technologies, and new technological trends in payment systems.
