Central banks of Azerbaijan, Slovakia agree to strengthen institutional co-op

Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov has met with Chairman of the National Bank of Slovakia Peter Kažimír on the sidelines of the Annual Meetings of the World Bank and the International Monetary Fund, Report informs referring to the CBA.

During the meeting, global and regional macroeconomic conditions, development trends in the financial sector, and the current status of cooperation between the two institutions were discussed.

Following the meeting, a Memorandum of Understanding was signed to strengthen institutional and legal frameworks for cooperation between the institutions, expand mutual ties, and promote the exchange of advanced experience and knowledge in central banking.

The Memorandum provides for the development of cooperation in monetary policy, payment systems, financial technologies, as well as the regulation and supervision of banking, insurance, and capital markets.