BAKU, Azerbaijan, April 14. Market participants in Azerbaijan’s financial sector are no longer operating separately but as part of a cohesive team, while still maintaining competition among themselves, said Taleh Kazimov, Governor of the Central Bank of Azerbaijan (CBA), Trend reports.
Speaking at an event dedicated to the 35th anniversary of the Azerbaijan Banks Association (ABA) and the 25th anniversary of its subsidiary, the Azerbaijan Banking and Financial Training Center, Kazimov emphasized that the strategic policies initiated by national leader Heydar Aliyev and continued under the leadership of President Ilham Aliyev have led to significant development and strong momentum across all sectors of independent Azerbaijan, including banking.
He noted that under the current administration, the banking sector has seen considerable progress in strengthening resilience against potential risks and expanding access to financial resources for economic actors.
Regarding financial inclusion, Kazimov highlighted the crucial role of the ABA in promoting initiatives in this area. He also underlined that the collaboration between the Central Bank and the ABA has helped modernize the sector and broaden innovation efforts.
"The fact that market participants now operate as a large team rather than individually — while still preserving a competitive spirit — is a testament to this synergy. I want to express my gratitude to the ABA leadership and bank executives for making this possible," he said.
Kazimov also expressed appreciation to President Ilham Aliyev for creating a supportive environment for sustainable development in the financial sector.
The event opened with remarks by Natig Amirov, Assistant to the President of the Republic of Azerbaijan and Head of the Department of Economic Policy and Industrial Affairs within the Presidential Administration; Alpaslan Çakar, Chairman of the Board of the Banks Association of Türkiye; and Zakir Nuriyev, President of the Azerbaijan Banks Association (ABA). Speakers reflected on the milestones and achievements of the banking and financial sector over the years.
Additionally, the event spotlighted the evolution of the Training Center — now operating as the Azerbaijan Bank and Financial Training Center — emphasizing its role in the professional development of financial sector personnel and the enhancement of industry-wide expertise.
The event, significant for the country’s financial sector, was attended by senior government officials, financial industry leaders, and representatives from foreign associations and organizations collaborating with the ABA.
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