Sudan Central Bank Signs Landmark MoU with Azerbaijani Counterpart to Strengthen Banking Cooperation

The Central Bank of Sudan (CBOS) and the Central Bank of Azerbaijan signed a landmark memorandum of understanding in the Azerbaijani capital, Baku, aimed at enhancing banking and financial cooperation in a step described as strategic toward reintegrating Sudan into the global banking system. The signing ceremony was attended by Sudan’s Ambassador to Azerbaijan, Anas Al-Tayib Al-Gailani.

Governor of the Central Bank of Sudan, Amina Mirghani, stressed the importance of the historic relations between the two countries, noting that the memorandum opens broad prospects for economic cooperation and mutual benefit, particularly in the areas of exports and imports.

For his part, Governor of the Central Bank of Azerbaijan, Taleh Kazimov, announced his country’s full support for Sudan, calling on Azerbaijani banks to establish correspondent banking relations with their Sudanese counterparts to facilitate and settle cross-border payments. He also expressed readiness to transfer expertise and build capacities through training programmes and professional attachments.

The signed memorandum establishes a comprehensive legal framework aimed at developing correspondent banking relations, exploring the opening of branches and representative offices for commercial banks in both countries, and promoting the exchange of financial technology and banking expertise. This is expected to add qualitative value to the growing bilateral partnership between Khartoum and Baku.