CBA announces 2024 progress on Financial Sector Development Strategy

The implementation status of the “Financial Sector Development Strategy for 2024-2026,” approved by the Board of Directors of the Central Bank of Azerbaijan (CBA) last year, has been announced for 2024, Azernews reports, citing the CBA.

A report detailing the implementation of strategic activities defined in the strategy for the financial sector has been prepared and posted on the official website of the CBA.

The report covers both areas of activity implemented according to the plan as of December 31, 2024, and areas that have been delayed. It also highlights the main achievements, next steps, and analyzes the potential quantitative outcomes for each sector by the end of 2024.

It is important to note that the three-year strategy outlines strategic goals such as expanding financial inclusion, increasing the coverage of financial services, diversifying financial instruments, enhancing sector efficiency, implementing corporate governance, and strengthening transparency and sustainability.