Azerbaijan, Kazakhstan discuss use of SupTech technologies

Kazakhstan’s Agency for Regulation and Development of the Financial Market has held talks with a delegation from Azerbaijan’s Central Bank on cooperation in financial sector supervision and the use of modern technologies, including SupTech.

The meeting was held between the agency’s chairperson, Madina Abilqasymova and a delegation from the Central Bank of Azerbaijan led by Deputy Chairman Togrul Aliyev, Caliber.Az reports, citing local media.

The sides discussed improving risk-based supervision, introducing modern analytical tools and digital solutions into regulatory practices, and exchanging experience in assessing the resilience of financial institutions.

They also exchanged views on consumer lending regulation, including interest rate policies and the calculation of debt burden ratios.

During the visit, the Azerbaijani delegation is scheduled to take part in a series of expert sessions covering supervisory review processes (SREP), anti-money laundering and counter-terrorism financing measures, as well as approaches to risk-based supervision.

Special attention will be given to assessing banks’ internal capital and liquidity adequacy, the use of SupTech and artificial intelligence in supervisory activities, and the management of model risk.

Both sides reaffirmed their interest in further expanding cooperation and sharing expertise in financial regulation and supervision.

By Bakhtiyar Abbasov