Azerbaijan's Central Bank, Turkey's Finance Office sign Memorandum of Understanding (UPDATE)

Economy Materials 31 March 2022 18:33 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
Read more

Details added (first version posted at 17:27)

BAKU, Azerbaijan, March 31. A Memorandum of Understanding has been signed between the Central Bank of the Republic of Azerbaijan (CBA) and the Finance Office of the Presidency of the Republic of Turkey, Trend reports citing the CBA.

According to the bank, Chairman of CBA Elman Rustamov held a meeting with President of the Finance Office of Turkey's Presidency Goksel Ashan on March 31, 2022.

The sides stressed the significant role of the signing of the Memorandum in deepening cooperation.

The document covers the issues of expanding the fintech ecosystem, introducing an open banking approach, digital transformation of the insurance industry and capital markets, as well as addresses establishing a legal framework that supports the innovative financial technologies, and also creating cooperative frameworks to increase human resources.