WASHINGTON, D.C., May 26, 2025 – The second Azerbaijani Banking Mission to the United States has successfully concluded following a week-long program aimed at strengthening regulatory cooperation and enhancing financial compliance and integrity. The mission, titled “Enhancing Banking Compliance & Financial Integrity: Azerbaijani-U.S. Regulatory Exchange Mission”, was co-organized by the United States-Azerbaijan Chamber of Commerce (USACC) and the Azerbaijan Banks Association (ABA).
This high-level exchange brought together chief compliance officers from leading Azerbaijani banks with key U.S. regulatory bodies and financial institutions to promote bilateral dialogue, improve banking practices, and foster long-term partnerships between the financial sectors of both countries.
During the program, delegates participated in meetings with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), the U.S. Department of State, the Federal Reserve Bank of New York, the American Bankers Association, Citibank, BNY Mellon, Moody’s, Dentons, and the Association of Certified Anti-Money Laundering Specialists (ACAMS).
“Azerbaijan is the largest investor in U.S. financial markets from the South Caucasus region. The trade and business relationship between the two countries holds significant potential for further growth, and the strong compliance of Azerbaijani banks with international standards is a key driver of this progress,” said Natig Bakhishov, Executive Director of the United States-Azerbaijan Chamber of Commerce. “USACC, in close partnership with the Azerbaijan Banks Association, remains committed to supporting and expanding these strategic engagements in the years ahead.”
In recent years, correspondent banking relationships between Azerbaijani and American banks have significantly expanded. Today, over 10 Azerbaijani banks maintain direct correspondent relationships with U.S. financial institutions.
“We are seeing growing confidence in Azerbaijan’s banking sector, which stands as one of the most advanced and resilient in the region,” said Anar Karimov, Chief Compliance Director at PASHA Bank and Chair of the ABA Compliance Working Group. “These exchange missions provide invaluable opportunities for mutual learning, capacity building, and developing lasting institutional partnerships.”
The Second Azerbaijan Banking Mission to the United States included participation from ABB Bank, Access Bank, AFB Bank, Azer-Turk Bank, Bank of Baku, Bank Respublika, PASHA Bank, Premium Bank, Unibank, Xalq Bank, and Yapi Kredi Bank.
This mission follows the successful inaugural Azerbaijan Banking Mission to the United States in 2024, led by the Governor of the Central Bank of Azerbaijan and attended by top executives from 11 leading Azerbaijani banks. In the same year, USACC and ABA, in partnership with CRDF Global, organized the Strengthening Sanctions Compliance Workshop and Conference, further demonstrating a shared commitment to deepening U.S.-Azerbaijan financial cooperation and regulatory alignment.
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Source: USACC
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