BAKU, Azerbaijan, October 23. An exchange of institutional experience in the financial sector has taken place between Azerbaijan and Uzbekistan.
This was reported by the Central Bank of Azerbaijan (CBA) following a working visit by a delegation from the Central Bank of Uzbekistan (CBU) to the CBA.
During the meetings held as part of the visit, presentations were delivered to the Uzbek delegation covering topics such as the development of risk-based annual audit plans, quality control, process automation, reporting, and the monitoring of the implementation of audit recommendations.
Throughout the meetings, CBA staff shared insights into the institution's experience and the approaches it employs in these areas. The parties engaged in a mutual exchange of experience regarding these respective fields.
The Central Bank of Uzbekistan is the primary financial institution responsible for implementing the country’s monetary policy, ensuring the stability of the national currency, and regulating the banking system. Its activities encompass the formulation of monetary policy, the management of inflation, the supervision of the banking sector, and the preservation of financial stability. Furthermore, the development of payment systems and the enhancement of the banking sector's resilience are among its core areas of operation.
The CBU is guided by the objectives of maintaining price stability, ensuring the resilience of the banking system, and facilitating the uninterrupted operation of payment systems. Additionally, the institution manages the country’s official international reserves and implements measures to increase access to financial services.
