Turkish states, especially Turkey, continue to come up with new initiatives for economic union. According to the news of Şeref Kılıçlı from İTO Haber, the Council of Banking Associations of Turkish States was established with the agreement signed in Istanbul.
The Council of Banking Associations of Turkic States was established
The event, hosted by the Banks Association of Turkey (TBB), was described as a new step in the goal of Turkish states to become a world trade center. TBB Chairman of the Board of Directors Alpaslan Çakar said, “We must realize that not only political but also economic relations are important. Turkish society will have better conditions when our political unity is supported by economic relations.” made statements.
Stating that the council was established with the principle of free will and equal rights, Çakar said that the formation did not have any commercial purpose. However, Çakar underlined that the activities of the council will be regulated in accordance with the laws of the member states.
Making a statement on the subject, Marat Baitokov, Deputy Chairman of the Board of Directors of the Kazakhstan Banks Association, said, “The whole world knows how great Turkish civilization is. Kazakhstan banks will be partners in the innovative approach with great satisfaction. Local banks make up 70 percent of the 21 banks that are members of the Kazakhstan Banks Awareness. We will support the union with all our means.” made statements.
Officials announced the fields of activity of the Council of Banking Associations of Turkic States. Member countries will organize summits, forums, conferences and seminars on banking activities by establishing a common platform. Banking data and regulations of countries will be shared in order to be in a better position on issues such as the development of digital banking, the fight against crime revenues, adaptation, and combating climate and environmental risks.
All members of the Organization of Turkic States, established under the leadership of Turkey, take place in the Council of Banking Associations of Turkic States. However, the bank unions of Hungary, Georgia and the Turkish Republic of Northern Cyprus take part as observers in the signed agreement.