BAKU, Azerbaijan, April 24. The Azerbaijan Banks Association (ABA) has approved its strategic goals for 2026–2030: “These goals include the development of small and medium-sized businesses, particularly in the post-oil era, and strengthening support for financing the economy in line with the new economic policy,” Zakir Nuriyev, President of the Azerbaijan Banks Association (ABA), told Trend.
He noted that to support these processes, there are plans to expand the Azerbaijan Center for Training Banking Specialists (ACTBS): “The Center will expand its activities by establishing associations operating in the financial sector, and additional emphasis will be placed on personnel training. In total, more than 30,000 employees work in the financial sector, and the necessary support measures will be implemented to ensure their certification.”
According to Nuriyev, alongside this, training and on-the-job training programs will be strengthened to support the central bank’s work on risk management and raising Basel standards: “Banks’ participation in the securities market will be more active, and cooperation and synergy between various segments of the financial sector will be enhanced.”
''Other priority areas include the development of the insurance, securities, and fintech markets, the implementation of open banking, and the improvement of payment systems. At the same time, there are plans to expand cybersecurity measures and strengthen international cooperation in this area,'' Nuriyev emphasized.
The head of the association also spoke about the banking sector’s contribution to the “green economy”: “As part of COP29, the banking sector has committed to providing 2 billion manat ($1.1 billion) in green loans over the next five years, and relevant measures in this direction are already being implemented.
''Green financing will serve both to protect the ecological balance and to transform the economy in line with the requirements of the new era. Several large-scale pilot projects are being implemented by systemically important banks, and these projects play a vital role in ensuring the transition to a green, sustainable economy. In addition, the Energy Efficiency Fund was established some time ago. Banks plan to separately finance projects that improve energy efficiency and support the transition to a “green economy,” making active use of the fund’s resources,'' Nuriyev concluded.