Azerbaijani Central Bank Governor speaks at inaugural meeting of Council of OTS Central Banks

27-05-2025

27 May 2025, Baku: Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov participated in the inaugural meeting of the Council of Central (National) Banks of the member states of the Organization of Turkic States (OTS).  

The meeting began with welcoming speeches by Timur Suleimenov, Governor of the National Bank of Kazakhstan, and Kubanychbek Omuraliev, Secretary General of the OTS.

During his speech, Governor Kazimov discussed current economic development trends in Azerbaijan and the CBA's initiatives to enhance monetary policy transmission. He emphasized the significant strides the CBA has made in expanding the use of financial technologies and developing digital currency.

He expressed his confidence that the Organization of Turkic States, as a regional and global platform, will serve to strengthen effective interaction between countries and central banks.

At the end of his speech, Governor Kazimov announced that the next meeting of the Council of Central (National) Banks of the Organization of Turkic States member states will be held in Baku.

The event also featured speeches by Melis Turgunbayev, Governor of the National Bank of Kyrgyzstan, Fatih Karahan, Governor of the Central Bank of Turkey, Timur Ishmetov, Governor of the Central Bank of Uzbekistan and Gábor Szőcs, Executive Director of the Central Bank of Hungary.

As part of the meeting, President of the Republic of Kazakhstan Kassym-Jomart Tokayev received the governors of the central (national) banks of the OTS member states.

It should be noted that in November last year, the signing ceremony of the Memorandum on the Establishment of the Council of Central (National) Banks of the Member States of the Organization of Turkic States took place in Bishkek, Kyrgyz Republic. The event occurred during the 11th Summit of the Organization of Turkic States and was attended by Governor of the Central Bank of Azerbaijan. The main purpose of the Memorandum, signed by the chairpersons of the central banks of Azerbaijan, Kazakhstan, the Kyrgyz Republic, Turkey and Uzbekistan, is to contribute to the strengthening of cooperation between the banks.

As an advisory and consultative body, the Council's main task is to conduct joint consultations and research in areas such as monetary policy, financial stability, payment systems development, and financial technologies, as well as other areas of mutual interest. The Council supports strengthening regional economic resilience and financial stability, as well as promoting knowledge exchange among member countries.