In the course of a working visit to Baku, the Agency delegation led by the Chairperson of the Financial Market Regulation and Development Agency Madina Abilkasimova held a meeting with the Chairman of the Central Bank of Azerbaijan, Taleh Kyazimov.

The parties exchanged experience on issues of ensuring financial stability, regulation of financial markets, as well as discussed strategic directions and main initiatives for the development of the financial sector. emphasized the main role in ensuring the stability of the system. During the presentation, methods of risk assessment and management in supervisory practice, which allow to focus the regulator's attention on the most important risks and effectively allocate supervisory resources, were described in detail.

Special attention was paid to changes in the banking legislation of Kazakhstan aimed at increasing the stability of financial institutions, protecting the rights of consumers of financial services and developing a competitive environment. Initiatives implemented in Kazakhstan to digitize the supervisory system, including the introduction of electronic platforms for the collection and analysis of regulatory reporting, the development of remote monitoring tools and the use of artificial intelligence technologies in analytical work, were presented.

The parties discussed the prospects for expanding cooperation between the financial regulators of Kazakhstan and Azerbaijan, including the exchange of experience and joint education and research projects.

At the end of the meeting, the parties discussed the implementation of bilateral cooperation. expressed interest in further strengthening and agreed to sign a Memorandum of Understanding.

Department of External Communications

press@finreg.kz

Source : https://www.gov.kz/memleket/entities/ardfm/press/news/details/972455?lang=kk