BAKU, Azerbaijan, March 6. Last week, Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov held meetings with representatives of the National Banks of Tajikistan and Kazakhstan, the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Markets, as well as with the leadership of the Astana International Financial Center, Trend reports.
During the meeting with Kholiqzoda Hokim Hikmatullo, Chairman of the National Bank of Tajikistan, expansion and prospects of cooperation between the Central Bank of Azerbaijan and the National Bank of Tajikistan were discussed. The leadership of both banks also exchanged opinions on the macroeconomic situation, development outlook of the financial–banking sector, reforms in the insurance system and other topics.
Furthermore, at the meeting with Galymzhan Pirmatov, head of National Bank of Kazakhstan, expansion and future directions of cooperation between the central banks of Azerbaijan and Kazakhstan were discussed. In addition, heads of the banks talked about the current macroeconomic situation, the impact of global economic processes on the country's economy, improving monetary policy instruments, developing payment systems and other issues.
Moreover, prospects for cooperation between the financial markets of Azerbaijan and Kazakhstan were also noted.
Also, last week Azerbaijani Central Bank's Working Group on Financial Markets Development and Accessibility of Loans of the Commission on Business Environment and International Rankings discussed further steps within the Working Group on Effective Management and Macroeconomic Indicators.
Elsewhere, the CBA registered 33 emission prospectuses in 2022.
According to Moody's Investment Service, Azerbaijan’s banks are expected to see credit performance improve, thanks to high hydrocarbon prices and continued economic growth.
At the same time, the agency expects capital reserves to decline through the current year, as the loan portfolio expands further.