Establishment of the Central Bank Council of the Member States of the Organization of Turkish States

The 11th Summit of the Turkic Council was held on November 5-6, 2024, in Bishkek, the capital of Kyrgyzstan. During the summit, a significant step was taken towards the establishment of the Central Banks Council of the Turkic Council Member States.

According to the statement made by the Central Bank, a Memorandum of Understanding was signed among the Central Bank of the Republic of Azerbaijan, the National Bank of the Republic of Kazakhstan, the National Bank of the Kyrgyz Republic, the Central Bank of the Republic of Turkey, and the Central Bank of the Republic of Uzbekistan.

The Memorandum of Understanding was signed by Dr. Fatih Karahan, the President of the Central Bank of the Republic of Turkey; Taleh Kazimov, the President of the Central Bank of the Republic of Azerbaijan; Timur Suleimenov, the President of the National Bank of Kazakhstan; Melis Turgunbaev, the President of the National Bank of Kyrgyzstan; and Mamarizo Nurmuratov, the President of the Central Bank of Uzbekistan.

This step is regarded as an important initiative aimed at strengthening economic cooperation among member countries and ensuring financial stability in the region.