Finance Office of Turkey and Central Bank of Azerbaijan to sign memorandum 

The Finance Office of Presidency of the Republic of Turkey and the Central Bank of Azerbaijan (CBA) are planning to sign a memorandum for more active coordination of measures on the digitalization in Azerbaijan and the development of high technology, Director General of the CBA Farid Osmanov told Report.

According to him, the issues related to the introduction of the practice of the brotherly Turkish state in Azerbaijan and the digitalization of the insurance sector and capital markets will be discussed within the memorandum.

The CBA delegation recently held meetings at various financial institutions in Istanbul. During the meetings, the sides exchanged views on training and development in the Turkish financial sector, the application of professional and qualification standards in the financial markets, the prospects for the application of Turkish experience in our country in these areas and opportunities for future cooperation.

At the meeting with the Deputy Chairman of the Central Bank of Turkey (CBT) Emrah Sener, plans for further expansion and intensification of cooperation, especially the possibility of implementing joint research projects in the field of financial innovation, were discussed.

Along with this, SOFAZ placed a deposit worth 1 billion euros for six months in the Central Bank of Turkey.