The Central Bank team is working on governance frameworks for IT Management, Data Management, and Artificial Intelligence, Deputy Chairman of the Central Bank of Azerbaijan, Vusal Khalilov said at the “Fintex Summit 2025 – Financial Technologies Exhibition," APA-Economics reports.
He noted that the Central Bank plans to present the final products to the sector in the near future.
“These frameworks are being developed based on international standards and aim to make organizational processes more resilient, secure, and efficient,” Khalilov added.
He also mentioned that the new rules on Data and Cybersecurity, which came into force in April this year, were a significant step in ensuring the sector's security. He emphasized that there is a direct correlation between the increase in non-cash payments and the rise in cyberattacks and fraud.
“From this perspective, investing in cybersecurity is extremely important in today’s environment. Currently, organizations are coordinating their roadmaps with the Central Bank to fully comply with the regulations, and as a regulatory authority, we highly value the efforts made by these organizations,” Khalilov stated.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
