The Central Bank of the Republic of Türkiye (CBRT) and the State Bank of Pakistan (SBP) have entered into a significant partnership by signing a Memorandum of Understanding (MoU) on Thursday.
The agreement is aimed at strengthening collaboration on central banking matters, the CBRT said in a statement.
"In the framework of the Memorandum of Understanding, the two central banks aspire to foster cooperation and carry out technical activities in the field of central banking," read the statement.
The agreement, signed during President Recep Tayyip Erdoğan's visit to Pakistan, represents a key step toward enhanced financial collaboration between the two countries.
Erdoğan and his accompanying delegation of Turkish officials are on a four-day Asia tour, with Pakistan being the third stop after Malaysia and Indonesia.
