Tashkent, Uzbekistan (UzDaily.uz) — The central banks of Uzbekistan and Azerbaijan have agreed to develop cooperation in financial technology, payment systems and the regulation of digital assets.
The issues were discussed at a meeting at the Central Bank of Uzbekistan with an Azerbaijani delegation led by Taleh Kazimov, chairman of the Central Bank of Azerbaijan.
The sides reviewed the current state of bilateral cooperation and opportunities to expand it further.
They noted that cooperation between the two financial regulators has developed in recent years at both bilateral and multilateral levels.
Cross-border fintech projects and practical cooperation between relevant organisations and experts have emerged as key areas of collaboration.
The participants also discussed digital asset regulation, the development of regulatory sandboxes, support for fintech startups and the launch of joint pilot projects.
Particular attention was paid to open banking and the development of an open finance ecosystem. The Azerbaijani side expressed its readiness to share experience in establishing centralised open banking infrastructure.
This infrastructure involves the use of common API standards, customer consent management mechanisms and relevant regulatory tools.
Representatives of the two central banks also considered conducting joint research in monetary policy, macroeconomic analysis and data management.
According to the participants, such initiatives would enable more effective use of expert resources and expand the exchange of practical experience.
Following the talks, the sides reaffirmed their intention to turn the agreements reached into concrete initiatives, intensify contacts between specialists and continue strengthening long-term cooperation.
