Baku, Abu Dhabi expand financial cooperation with new memo

The Central Bank of Azerbaijan (CBA) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market have signed a memorandum of understanding (MoU) on cooperation. 

The memorandum aims to deepen collaboration between the two institutions in areas such as financial technologies and services, capital markets, and other relevant sectors, Caliber.Az reports, citing the CBA.

“The MoU will focus on exchanging expertise and information in these areas, organising training sessions, seminars, research visits, and professional development activities. This partnership will offer important opportunities to study international practices and adopt advanced regulatory approaches,” the statement said.

The document is expected to significantly contribute to strengthening strategic relations by establishing a legal framework for cooperation between the two institutions.

Moreover, the memorandum envisions the reinforcement of continuous dialogue and implementation of joint initiatives, which will help enhance the regulatory expertise of both countries and support the sustainable development of their financial sectors.

By Khagan Isayev