A delegation led by Deputy Chairman of the Central Bank of Azerbaijan Vusal Khalilov participated in the 4th Regional Meeting on the Development of Payment Systems of Central Banks of Central Asia and Azerbaijan, held in Dushanbe, APA-Economics reports, citing the Central Bank of Azerbaijan (CBA).
Speaking at the event, the deputy chairman provided information on the work carried out to modernize Azerbaijan's payment sector, increase the resilience and efficiency of the national payment infrastructure, expand the implementation of modern payment solutions, as well as the country's experience in applying artificial intelligence in supervisory processes. He also emphasized the importance of exchanging experience and deepening cooperation among countries in the region for the development and mutual integration of payment systems and the implementation of innovative solutions.
Representatives of the Central Bank also highlighted initiatives aimed at expanding the application of innovations in the financial sector, improving the regulatory framework, and developing data management.
During the meeting, participants discussed current trends in the payment sector across the region, the development of national payment infrastructures, the introduction of instant payment systems, the adoption of unified QR code standards, and the integration of modern financial technologies.
At the conclusion of the meeting, representatives of the central banks of Central Asian countries and Azerbaijan agreed to establish a joint working group to explore opportunities for integrating national payment systems. They also signed a joint protocol outlining the main areas of future cooperation in the payment sector.
Note that the regional meeting served as an important platform for exchanging experience in the development of payment systems among the region's central banks, discussing common challenges, and expanding opportunities for mutual cooperation.
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