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Azerbaijan and Hungary central banks sign Memorandum of Understanding on cooperation

05 June 2026 12:29 (UTC +04:00)

The Central Bank of Azerbaijan (CBA) and the Central Bank of Hungary signed a Memorandum of Understanding on Cooperation (MoU) on the sidelines of the Second Meeting of the Council of Central (National) Banks of the Member States of the Organization of Turkic States, held in Baku, CBA told APA-Economics.

The Mou establishes a framework for closer cooperation and knowledge-sharing in central banking. It is intended to support the exchange of expertise, best practices and technical experience between the two central banks.

Areas of cooperation include monetary policy, banking supervision, capital markets, insurance, payment systems, financial technology and other matters of mutual interest. The memorandum also provides for the organization of meetings, seminars, training programs, study visits and other professional exchanges.

The two institutions expect the agreement to contribute to the development of central banking practices and support the continued advancement of the financial sectors in both countries.

Central Bank of Azerbaijan Central Bank of Hungary memorandum of understanding cooperation Baku Organization of Turkic States central banks monetary policy banking supervision capital markets insurance sector payment systems financial technologies financial sector Azerbaijan Hungary