BAKU, Azerbaijan, December 3. The establishment of a regional financial center between Azerbaijan and Uzbekistan will speed up financial transactions and serve as a catalyst for the development of tourism, Denis Kohaev, head of business technology support at Kapitalbank Uzbekistan, told Trend on the sidelines of the 8th International Banking Forum.
"We have particularly warm and brotherly relations with Azerbaijan. Our nations support each other across various sectors, including economics, culture, and politics. This mutual support is evident not only in public diplomacy but also in the relationship between the leadership of our countries. Leaders communicate with mutual respect and friendship, which strengthens our cooperation. One of the key areas of collaboration is the discussion of establishing a regional financial center together with Azerbaijan. This project, currently under negotiation at the highest levels of both countries, holds tremendous significance.
While our bank is not yet involved in these negotiations, I am confident that the establishment of such a center will greatly impact the development of the banking sectors in both countries. It will streamline and expedite financial transactions, making them more efficient and accessible for clients.
In addition to the financial benefits, the project could also foster tourism development. Uzbekistan and Azerbaijan are countries with rich historical legacies and unique landmarks. For example, Uzbekistan’s ancient cities—Samarkand, Bukhara, Khiva, and Urgench—attract many travelers from all over the world every year. The creation of the financial center will not only strengthen economic ties but also enhance cultural and tourism relations between our nations. I am confident that the further development of tourism and cooperation between our countries is a vital and promising goal that will bring significant benefits to both sides," he concluded.
Earlier, a source informed Trend that Azerbaijan and Uzbekistan are exploring the possibility of creating a regional financial center.
