The Central Bank (CBA) of the Republic of Azerbaijan has become an observer member of the Global Financial Innovation Network (GFINN) in order to develop digital financial solutions and promote innovation, APA-Economics reports citing the CBA.
The Central Bank will be able to participate in the Network's initiatives, as well as establish cooperation with leading global regulators and innovators within the framework of its membership. Thus, with the experience gained, the Central Bank will contribute to aligning the technological development of the financial sector with international standards, as well as increasing the stability of financial markets.
It should be noted that the Global Financial Innovation Network, which brings together financial regulators, central banks, international organizations, and other financial technology-related institutions, is an international organization that aims to promote and develop innovations in the mentioned field.
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