BAKU, Azerbaijan, 26 August. Azerbaijan and Uzbekistan are exploring the possibility of establishing regional financial center, as part of their growing economic cooperation, an informed source told Trend.
The proposed center would integrate banking and financial institutions from both countries.
The initiative aims to enhance financial markets and attract investments for upcoming key projects.
The total assets of Azerbaijan's banking sector at the beginning of 2024 amounted to 49.178 billion manat, or $28.928 billion, with 22 banks currently operating in the country.
In contrast, Uzbekistan's banking sector had total assets of $52.8 billion at the start of 2024, with 35 banks currently in operation.