BAKU, Azerbaijan, May 26. The Central Bank of
Azerbaijan (CBA) and the Central Bank of the UAE have kicked the
tires on the potential for collaboration, a source in the CBA told
Trend.
The CBA Governor Taleh Kazimov and the Governor’s Advisor Ulvin
Aliyev visited Abu Dhabi, UAE.
As part of the visit, a meeting was organized with the Governor
of the Central Bank of the UAE (CBUAE), Khaled Mohamed Balama.
During the meeting, views were exchanged on the existing
relations between the banking and financial sectors of the two
countries and the current state and prospects of cooperation
between central banks.
The meeting also discussed the work done by central banks to
improve the regulatory and legislative frameworks in the fields of
finance, banking, and insurance, as well as digital payment
infrastructure and control technologies, and emphasized the
importance of expanding close and productive relations between the
institutions.
At the end of the meeting, a signing ceremony of a memorandum of
understanding (MoU) was held between the CBA and the CBA to
strengthen cooperation, experience, and information exchange in the
financial sector.
“Within the framework of the memorandum, the parties will
cooperate in discussing the legislative framework for banking,
insurance, payment services, payment systems, and other areas of
financial markets, assessing the mutual integration of retail
payment systems such as fast payment systems, as well as exchanging
information on best practices. In addition, both institutions will
interact in the field of exchange of experience and knowledge,
including holding meetings, courses, seminars, and business visits
to discuss issues of mutual interest,” the source said.
The governors put their cards on the table, expressing their
firm belief that the MoU will pave the way for strengthening ties
between the two friendly nations in the realms of economy, trade,
and investment.
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