BISHKEK: Turkic states on Wednesday signed a memorandum of understanding (MoU) to establish the Council of Central Banks. The agreement was reached during the 11th Summit of the Organization of Turkic States in Kyrgyzstan’s capital.
According to Anadolu Agency, the MoU was signed by the governors of the central banks of Trkiye, Azerbaijan, Kazakhstan, Kyrgyzstan, and Uzbekistan. This collaborative initiative aims to enhance economic cooperation and integration among the member states. The establishment of the Council of Central Banks is expected to facilitate coordinated monetary policies and strengthen financial stability across these nations.
The summit, hosted in Bishkek, provided a platform for the member states to discuss strategic economic initiatives and foster regional collaboration. The new council is anticipated to play a crucial role in aligning the financial systems of the Turkic states, thereby promoting sustainable economic growth in the region.