Kapital Bank and Banking Association for Finance and Trade (BAFT), the subsidiary of the American Association of Bankers, April 13-14, 2021 organized an online seminar on the topic “Correspondent banking”. The event was held with the support of the Central Bank of the Republic of Azerbaijan.
The main program of the seminar was devoted to the establishment and support of correspondent banking relations on the basis of international experience. This topic was raised in the region for the first time, and the seminar was conducted by experts from US Global Banks and Europe. The event was attended by fifty specialists from 20 local commercial banks and representatives of foreign banks operating in Azerbaijan.
President Baft Tod Berulell and CEO of the Central Bank of the Republic of Azerbaijan Togrul Aliyev, who were present at the opening of the seminar, emphasized the international significance of the event and expressed their support to international cooperation in this area.
First Deputy Chairman of the Board of Kapital Bank Farid Huseynov noted that the seminar will help local banks to learn more about the practice of correspondent banking internationally, as well as strengthen and increase the potential of Azerbaijani banks in this direction.
The seminar program covered new global trends and best practices in the field of correspondent banking, including the organization of work with internal and external stakeholders, coordinating the choice of partnership and its coordination with the Bank’s strategy, expectations, identifying potential risks in this process, development and management cooperation between banks. The event program also included issues of information technologies, cybersecurity and digital solutions.