Central banks of Azerbaijan, Uzbekistan exchange experience in financial technology

Ulviyya Poladova

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A delegation from the Central Bank of Uzbekistan has paid a working visit to the Central Bank of Azerbaijan (CBA) to exchange experience in financial technology and innovation.

According to the CBA, on the first day of the visit, Deputy Chairman of the Central Bank Vusal Khalilov met with the Uzbek delegation.

The meeting focused on the importance of sharing expertise, promoting innovation in the financial sector, and prospects for strengthening cooperation between the central banks of the two countries.

During the visit, Azerbaijani officials presented initiatives implemented under the Central Bank's Financial Sector Development Strategy for 2024-2026, including developments in financial technology, innovation and payment systems, regulatory approaches and the results achieved.

The discussions also covered efforts to develop the digital financial ecosystem, promote innovative financial solutions, improve payment systems and products, upgrade relevant infrastructure and expand access to financial services.

Representatives of the Central Bank of Uzbekistan, in turn, shared their country's experience in developing a financial technology strategy, outlining key priorities and major areas of development in the sector.