BAKU, Azerbaijan, August 28. The central banks of Azerbaijan and Uzbekistan held discussions on the development of financial technologies.
This was announced by the press service of the Central Bank of Azerbaijan (CBA).
According to the information, Central Bank Deputy Chairman Vusal Khalilov met with First Deputy Chairman of the Central Bank of Uzbekistan Nodirbek Saydullaev as part of a working visit to the Republic of Uzbekistan.
During the meeting, the parties discussed current approaches and prospects for creating an innovative financial ecosystem and developing financial technologies, as well as expanding access to funding sources for organizations specializing in this field.
The parties also exchanged views on deepening opportunities for institutional cooperation.
The expansion of ties between Azerbaijan and Uzbekistan in the financial sector is also continuing at the level of businesses and banking institutions. Aziza Normurodova, Product Marketing Manager at Hamkorbank, told Trend at the “Silk Road Finance & Technology” forum that representatives of the two countries’ financial sectors are exchanging experiences through international platforms and discussing future areas of cooperation.
“Currently, Uzbekistan, like other Eurasian countries, such as Azerbaijan, is increasingly developing its banking sector. It is very important to meet at such platforms and discuss the challenges and opportunities for the development of the financial sector,” Normurodova said.
According to her, the participation of Azerbaijani representatives in events dedicated to Uzbekistan’s financial sector creates additional opportunities to discuss pressing issues and establish professional contacts.
“This interaction allows representatives of the financial sector to exchange practical experience and discuss future areas of cooperation,” she noted.
Normurodova emphasized that the financial sector plays an important role in the economic development of countries.
“The financial sector is a key indicator of economic development. It is important to build bilateral relations between Eurasian countries so that we can understand where we need to go and how we can develop these bilateral relations,” she said.
She also noted the importance of international events that bring together representatives from Central Asian and Eurasian countries in terms of establishing new professional and business connections.
“When countries come together on a single platform and openly share their experiences, it lays the foundation for new professional and business connections. As a result, such connections contribute to the further development of financial cooperation among countries,” Normurodova added.
