The Turkish Banking Regulation and Supervision Agency (BDDK) has granted permission to PASHA Bank, one of Azerbaijan's largest banks, to purchase shares of Taib Bank from Aksoy Holding of Turkey in order to acquire a controlling stake of the Turkish Bank."By establishing a presence in Turkey, Pasha Bank will seek to capitalize on increased trade and investment flows between Azerbaijan, Georgia and Turkey," Farid Akhundov, CEO of PASHA Bank said in a statement."We believe the Turkish market holds great potential, particularly for small and medium enterprises looking for investment opportunities in Azerbaijan, Georgia and other countries in the region. There are also plenty of opportunities for Azerbaijani investments into Turkish SMEs," he added.Batu Aksoy, CEO and Vice Chairman of Aksoy Holding said that the holding was confident that the partnership with Pasha Bank will yield a very successful, niche banking platform that will help businesses to grow both in Turkey and the wider region.He also underlined the importance of the partnership as it will bring foreign direct investment from Azerbaijan to Turkey's vibrant banking sector.