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Azerbaijan’s central bank joins global financial consumer protection network

02 October 2025 11:07 (UTC +04:00)

The Central Bank of Azerbaijan (CBA) has joined the International Financial Consumer Protection Network (FinCoNet) as a full member, CBA told APA-Economics.

According to the information, within the framework of the membership, the Central Bank has gained the right to participate in the organization's working groups on responsible lending, consumer protection in digital financial services, market behavior supervision and risk assessment. In addition, this membership provides the opportunity to be involved in the process of preparing internationally accepted policy documents, as well as to gain access to existing policy documents and research databases.

As a member of FinCoNet, the Central Bank will be able to learn best practices in financial consumer protection and market behavior regulation, get acquainted with internationally accepted practices and approaches, and also contribute to the formation of priority directions by participating in determining the organization's agenda.

Note that FinCoNet, established in 2013, is an international organization of supervisory authorities responsible for the conduct of financial markets and the protection of financial consumers. The main goal of this organization is to promote efficient and effective control mechanisms that ensure the protection of consumer interests, to develop fair and transparent market practices, as well as to share best practices among member organizations.