Turkic states agree to establish Council of Central Banks to strengthen cooperation

Responsible officials from the Organization of Turkic States (OTS) signed a memorandum to create a Council of Central Banks at the 11th OTS summit in Bishkek.

Photo: National Bank of Kyrgyzstan

According to the National Bank of Kyrgyzstan, this council aims to enhance cooperation among the central banks of member countries.

The document was inked by the central bank leaders of five countries: Melis Turgunbaev of Kyrgyzstan, Taleh Kazimov of Azerbaijan, Timur Suleimenov of Kazakhstan, Fatih Karahan of Turkey, and Mamarizo Nurmuratov of Uzbekistan.

The newly established Council will foster effective collaboration on monetary policy, financial stability, payment system development, and financial technology. Through joint consultations and research, the council will facilitate knowledge exchange and strengthen economic ties across the Turkic nations, said the National Bank of Kyrgyzstan.