DJIBOUTI (Halbeeg News) – Turkish and Djibouti governments have jointly rectified Air Services Agreement that was signed in western Izmir province in May 2012.
According to Anadolu Agency, a Turkey-run news agency, the agreement grants various rights to the airlines designated between the parties in order to carry out scheduled international air services on the directions specified in its annex.
It grants rights “to fly without landing across the territory of the other contracting party, to make stops in the said territory for non-traffic purposes, to make stops in the territory at the points specified for that route in the annex for the purpose of embarking and disembarking the international traffic in combination or separately,” and the rights otherwise specified in the agreement.
The rectification comes barely two months after a memorandum of understanding (MoU) between the Participation Banks Association of Turkey (TKBB) and Djibouti’s Economy and Finance Ministry took place in Istanbul.
Under a new agreement, the Horn of Africa country of Djibouti is set to learn more about Islamic finance models from Turkish participation banks.
The pact is set to support the transfer of knowledge, skills, and technical know-how to Djibouti stakeholders and the development of the Islamic finance sector in the coastal country.
“Global economic crises have shown us that in the world of the future, an interest-based system will be replaced by a financial architecture in which risk sharing is essential,” Metin Ozdemir, head of the Turkish participation banks group, said in a speech at the signing.
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