Central Bank of Azerbaijan and China Banking and Insurance Regulatory Commission sign Memorandum of Understanding

20-10-2022

20 October 2022, Baku: The Central Bank of the Republic of Azerbaijan (CBAR) and the China Banking and Insurance Regulatory Commission (the Commission) signed a Memorandum of Understanding on cooperation. The purpose of the Memorandum is to create a legal basis for cooperation between the two institutions, strengthen relations and expand the exchange of information and experience in the financial sector.

The Memorandum envisages exchange of experience and information, organization of trainings and seminars, provision of consulting services between the CBA and the Commission in the banking and insurance sector.

This Memorandum will serve to ensure mutual cooperation between supervisory authorities, provide technical support, exchange experience on global regulation approaches, as well as expand cooperation at the international level and contribute to the development of the banking and insurance systems of both countries as a whole.

At the same time, within the framework of the Memorandum, the parties will exchange information and opinions on the economic and financial processes taking place in both countries, as well as on control issues.