Central Bank of Azerbaijan joins Berlin Group's workgroup

The Central Bank of Azerbaijan (CBA) has been accepted as a non-voting observer to the Berlin Group Open Finance Working Group.

Report informs citing the CBA that the membership will make a significant contribution to the promotion of innovation and bringing the regulatory framework in line with international standards.

The CBA will also have the opportunity to benefit from international best practices by collaborating with leading organizations and regulators in the field of open banking and finance.

At the same time, membership will allow the agency to implement important initiatives to form an inclusive financial ecosystem in the country and increase the sustainability of the financial sector.