Kazakhstan, Azerbaijan deepen ties in monetary policy and financial innovation

The central banks of Azerbaijan and Kazakhstan have exchanged expertise on monetary policy, reinforcing their financial cooperation.

According to the press service of the National Bank of Kazakhstan, a meeting took place between representatives of the Central Bank of Azerbaijan and their Kazakh counterparts, Caliber.Az reports referencing Kazakh media.

“A meeting with the delegation of the Central Bank of the Republic of Azerbaijan was held. Within the framework of the two-day program, the participants exchanged experience on communication and information policy issues,” the statement said.

Discussions also covered approaches to explaining key aspects of monetary policy and strategies for developing official communication channels for financial regulators.

This follows a previous high-level meeting in September 2024, when the Chairman of the National Bank of Kazakhstan, Timur Suleimenov, led a delegation to Azerbaijan. That visit highlighted the strong ties between the two institutions, acknowledged recent sustainable development trends, and facilitated a broad exchange of views on macroeconomic conditions, monetary policy, payment systems, and financial technologies.

A key milestone in this partnership was the signing of a Memorandum of Understanding (MoU) in 2023, which outlined expanded cooperation in areas such as monetary policy, the financial sector, payment systems, and fintech development.

The agreement also includes provisions for experience-sharing, information exchange, and bilateral visits to enhance collaboration.

By Tamilla Hasanova