The State Bank for Foreign Economic Affairs of Turkmenistan and the First Abu Dhabi Bank, the largest bank of the UAE, on Sunday signed an agreement on conditions and procedures for opening and operating a correspondent account between the banks, according to the country’s Watan Habarlary news program.
The document was signed by Member of the Board of Directors of First Abu Dhabi Bank Muhammad Saif Al Suwaidi and Chairman of the State Bank for Foreign Economic Affairs of Turkmenistan Rahymberdi Jepbarov.
The signing of the agreement took place during the meetings between the sides within the framework of the official visit of Gurbanguly Berdimuhamedov, Chairman of the Halk Maslakhaty (People’s Council) of Turkmenistan and National Leader of the Turkmen People, to the UAE on February 11-12.
The Memorandum of Understanding on Cooperation in the Energy Sector between the state-owned companies Türkmengaz (Turkmen Gas) State Concern and Abu Dhabi National Oil Company (ADNOC) was also signed during the meetings.
Following the visit of Gurbanguly Berdimuhamedov to the UAE, the countries issued a Joint Statement.