Baku, June 5, AZERTAC
The Central Bank of Azerbaijan (CBA) hosted the Second Meeting of the Council of Central (National) Banks of the Member States of the Organization of Turkic States (OTS).
The meeting brought together Kubanychbek Omuraliev, Secretary General of the OTS, the delegation of the National Bank of Kazakhstan, the chairmen of the central banks of the Kyrgyz Republic, Uzbekistan, and Türkiye.
The central banks of Hungary and the Turkish Republic of Northern Cyprus attended the meeting as observers.
Governor of the Central Bank Taleh Kazimov said that the council opens new opportunities for cooperation between the countries and institutions.
Noting that at a time when uncertainties in the global and regional economy are increasing, volatility of indices in financial markets is increasing, and the application of digital technologies is expanding, Taleh Kazimov added: “The council serves as an important platform for addressing both common and country-specific challenges.
Speaking at the event, OTS Secretary General Kubanychbek Omuraliev highlighted the council's activities over the past two years and its role in promoting cooperation both among member countries and regionally.
Subsequently, the event featured the first session dedicated to the topic on monetary and financial policy measures of central banks against global and regional risks in the medium term.
Vugar Ahmadov, Executive Director of Azerbaijan’s Central Bank, shared the country's experience on monetary policy and financial stability policies considering developments in the global economy and financial sectors, as well as their outcomes.
The event continued with Q&A session, followed by presentations by delegations on the topic.
Then, the second session of the meeting included the topic on development of digital financial ecosystems, including financial technologies.
Fidan Tofidi, Director of the Financial Technologies and Innovations Department at the Central Bank of Azerbaijan, made a presentation on the country's experience in developing the digital financial ecosystem and the initiatives.
Following the Q&A session, the event featured the delegations' speeches on the topic.
The participants stressed the significance of further expanding the Council's activities as a platform of regional and global importance, as well as further strengthening effective interactions between central banks.
As an outcome of the meeting, the heads of delegations signed the Communiqué of the Second Meeting of the Council of Central (National) Banks, reaffirming their commitment to closer financial cooperation and dialogue. The Third Meeting of the Council will be held in Türkiye in 2027.