The issues were discussed at a meeting between representatives of the Central Bank of Uzbekistan and an Azerbaijani delegation led by Central Bank Governor Taleh Kazimov.
The two sides reviewed existing cooperation and opportunities to strengthen ties, noting that collaboration between the financial regulators has grown in recent years at both bilateral and multilateral levels.
Discussions focused on cross-border fintech initiatives and closer cooperation between relevant institutions and experts. The sides also considered approaches to regulating digital assets, the use of regulatory sandboxes to test financial innovations, support for fintech startups and the launch of joint pilot projects.
Open banking and the development of an open finance ecosystem were also high on the agenda. Azerbaijan expressed readiness to share its experience in developing centralized open banking infrastructure, including common application programming interface (API) standards, customer consent management mechanisms and supporting regulatory frameworks.
The central banks also discussed opportunities for joint research in monetary policy, macroeconomic analysis and data management. Such cooperation could help both sides make better use of their expertise and expand the exchange of practical knowledge.
The meeting concluded with both sides reaffirming their commitment to translating the discussions into concrete initiatives, strengthening contacts between specialists and further developing long-term cooperation.
