Central Bank gathers central bank representatives from Central Asian countries for a regional meeting

14-06-2024

14 June 2024, Baku: The Central Bank of the Republic of Azerbaijan initiated a regional event on 13-14 June in Baku featuring representatives from central banks of Kazakhstan, Kyrgyzstan, Uzbekistan, and Tajikistan. During the event, payment experts from these central banks shared their experiences and discussed global payment trends.

Among the topics discussed were innovations in the Azerbaijani payments system, improvements to the legislative framework, cashless payment trends, innovative payment solutions used, the involvement of fintechs to the payments market, and initiatives to expand the coverage of the National Payments System.

Participants also debated topics such as options for introducing digital currencies, boosting the use of instant payment systems, the role of the open banking model in fintech development, the application of modern regulatory technologies in the financial sector and the expansion of cybersecurity information sharing between central banks. They also considered opportunities for future cooperation between the Central Bank of Azerbaijan and the central banks of Central Asia and the integration of the payments’ infrastructures of these countries.