​​​Bank of Georgia, the largest bank in Georgia, and Aktif Bank, Turkey’s largest privately-owned investment bank, signed dual agreements for joint funds transfer and insurance services.

​​​Bank of Georgia, the largest bank in Georgia, and Aktif Bank, Turkey’s largest privately-owned investment bank, signed dual agreements for joint funds transfer and insurance services.

The agreements were signed during a reception hosted to celebrate the official opening of Bank of Georgia’s liaison office in Turkey, setting forth the details of collaboration between the two banks for UPT (Universal Payment Transfer), Turkey’s first and only local money transfer service, and between Aktif Bank’s affiliate Sigortayeri Sigorta ve Reasürans Brokerlik A.Ş. and Bank of Georgia’s affiliate Aldagi BCI for insurance services.

Bank of Georgia CEO Irakli Gilauri had the following to say about the agreement: “I am pleased that we have joined forces with Aktif Bank to take the business opportunities that strong economic partnership between Georgia and Turkey offers. I believe that we will find a most valuable partner in Aktif Bank for expanding our operations in the region, as they are one of the most enterprising and innovative banks in Turkey.”

In a statement issued during the opening ceremony, Aktif Bank CEO and Board Member, Dr. Önder Halisdemir noted the value of the collaboration between the two banks, and said “Within the scope of the joint service agreement we have executed today between Bank of Georgia, the most innovative bank of Georgia and Aktif Bank, we are also putting the Universal Payment Transfer (UPT) and insurance services into use, which will be of great essence in ever strengthening the commercial relationship between Georgia and Turkey. Additional to enabling cheap, fast and safe money transfer between two countries via UPT, we have also signed a protocol on the insurance side where we will facilitate insurance guarantee for passengers and vehicles on their cross-border travels between Georgia and Turkey through providing life, property and liability insurance services which will enable citizens of both countries a safe travel during their commercial and touristic visits between two countries.”