Central Bank signs Memorandum of Understanding with Turkish Insurance and Private Pension Regulation and Supervision Authority

29-10-2025

29 October 2025, Baku: A delegation led by Davut Menteş, Chairman of the Turkish Insurance and Private Pensions Regulation and Supervision Authority (SEDDK), visited the Central Bank.

Governor of the Central Bank Taleh Kazimov received the SEDDK delegation. During the meeting, both parties expressed satisfaction with the existing cooperation between their institutions and exchanged views on expanding the partnership. The meeting also covered the development dynamics of insurance sectors, digitalization trends, and future prospects.

At the end of the meeting, the Central Bank and SEDDK signed a Memorandum of Understanding to strengthen their cooperation in the insurance sector.

The purpose of this memorandum is to establish a legal framework for cooperation, information exchange, and technical assistance in the field of insurance regulation and supervision between the two institutions.

The Memorandum aims to enhance the integrity and efficiency of the insurance and reinsurance markets and facilitate mutual consultations on the implementation of market supervision functions. At the same time, attention will be given to providing training and technical assistance to support the development of the regulatory framework for insurance markets in both countries. To this end, the parties will implement training programs, seminars, internships, and technical assistance projects to develop the insurance market.

The signed Memorandum will make a significant contribution to deepening integration between the financial systems of the brotherly countries, including the sustainable development of the insurance sector at the regional level.