Central Bank of the Republic of Azerbaijan and Turkish financial regulators have assessed anti-money laundering and counter-terrorism financing (AML/CFT) risks in the banking and insurance sectors as part of ongoing bilateral cooperation, AzerNEWS reports.

According to the Central Bank of Azerbaijan, the institution’s delegation paid a working visit to the Banking Regulation and Supervision Agency and the Insurance and Private Pension Regulation and Supervision Agency.

During the visit, the sides exchanged views and experiences on risk assessment mechanisms in the banking and insurance sectors related to AML/CFT compliance. Discussions also focused on supervisory measures, including on-site and off-site inspections, risk-based supervision methodologies, and the implementation of sanctions in this field.

The meetings were aimed at strengthening regulatory cooperation and enhancing the effectiveness of financial oversight in line with international standards.