BAKU, Azerbaijan, January 26. The Board of the Central Bank of Azerbaijan (CBA) has approved the "Financial Sector Development Strategy for 2024-2026", Trend reports.
The CBA's strategy prioritizes the development of the country's insurance, capital markets, and payment sectors, as well as the stability of the banking system.
It reflects strategy objectives such as promoting financial inclusion, diversifying financial instruments, boosting sector efficiency, implementing corporate governance, and strengthening transparency and stability.
The plan document also outlines each sector's likely market potential, appropriate Central Bank quality requirements and risk-based management mechanisms, digital finance, sustainable finance, professional development, and the increase of public financial literacy.
Achieving the objectives of the "Financial Sector Development
Strategy 2024-2026" will contribute to macroeconomic and financial
stability in the country and further increase the ability of
citizens to benefit from a strong and stable financial system.
To note, information on the implementation of the strategy will be
presented to the public on an annual basis.
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