Azerbaijan, Uzbekistan discuss development of digital financial ecosystem

Azerbaijan and Uzbekistan have discussed the development of a digital financial ecosystem, the Central Bank of Azerbaijan (CBA) told Report.

The discussions took place during a meeting in Baku between representatives of the CBA and a delegation from the Central Bank of Uzbekistan.

On the first day of the Uzbek delegation's visit, CBA Deputy Governor Vusal Khalilov met with the delegation. The meeting focused on the importance of exchanging expertise, promoting innovation in the financial sector and prospects for expanding cooperation between the central banks of the two countries.

During meetings held as part of the visit, the Uzbek delegation was briefed on the initiatives implemented by the Central Bank of Azerbaijan under its Financial Sector Development Strategy for 2024–2026, particularly in financial technologies, innovation and payment systems. The discussions also covered regulatory approaches and the results achieved.

The participants exchanged views on efforts to develop the digital financial ecosystem, promote innovative financial solutions, advance payment systems and products, improve relevant infrastructure and increase access to financial services.

Representatives of the Central Bank of Uzbekistan, in turn, shared their country's experience in developing a financial technology strategy, as well as its identified priorities and key development areas.