Baku, Astana share expertise on financial market regulation
Kazakhstan's Agency for Regulation and Development of the Financial Market has conducted a series of meetings in Baku under the framework of a memorandum of understanding signed in May between the Central Bank of Azerbaijan (CBA) and the Kazakh agency.
According to a statement from the CBA, the primary goal of the visit was to deepen professional dialogue and enhance bilateral technical cooperation between the two countries’ financial regulatory bodies, per Caliber.Az.
During the meetings, Azerbaijani officials shared insights into securities registration, regulation of Islamic financial tools, the securitisation process, and the operations of special financial companies.
Kazakh representatives, in turn, presented their expertise on regulatory requirements concerning the review and approval of issuance prospectuses, financial reporting standards, and other compliance documentation. They also discussed the legal framework surrounding green bonds, the application of a differentiated approach to corporate securities issuance, as well as guarantees and subsidies related to bonds.
The memorandum signed earlier this year facilitates the ongoing exchange of information about financial market development, regulatory standards, supervisory practices, and innovative mechanisms in the sector. It also aims to expand cooperation in enhancing oversight and control of market participants.
By Khagan Isayev