The Central Bank of Azerbaijan (CBA) plans to ensure the joint operation of special regulatory regimes with the central banks of Turkic states, Deputy Governor of the CBA Vusal Khalilov said at the Turkic states fintech forum held in Baku, APA-Economics reports.
According to him, the CBA closely cooperates with the central banks of Türkiye, Uzbekistan, Kazakhstan, and other countries in the region.
"We are considering ensuring the joint operation of special regulatory regimes in the near future. This will enable fintech companies to test their products in different markets," Khalilov said.
He noted that the similar pace of development of the fintech sector in Turkic states allows companies to introduce technological products developed in one country into the markets of other countries.
The CBA Deputy Governor added that all banks in Azerbaijan have already joined the open banking service, and there are extensive opportunities for fintech companies in this area.
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