Central banks of Azerbaijan, Hungary sign memorandum

The central banks of Azerbaijan and Hungary have signed a memorandum of understanding during the second meeting of the Council of Central Banks of the member states of the Organisation of Turkic States in Baku, Taleh Kazimov, Chairman of the Central Bank of Azerbaijan, has stated.

Sharing a post on his X account, he said the memorandum signed with Hungarian National Bank Governor Mihály Varga is aimed at further deepening cooperation between the two regulators, Caliber.Az reports, citing local media.

The document provides for the exchange of information in the areas of monetary policy, banking supervision, capital markets, the insurance sector, payment systems, and financial technologies.

The two sides also plan to develop technical cooperation through meetings, seminars, experience-sharing, training programs, and study visits.

By Bakhtiyar Abbasov