Bukhara:Azerbaijan's Deposit Insurance Fund (ADIF) and Uzbekistan's Deposit Guarantee Agency have signed a memorandum of bilateral cooperation. This agreement was formalized during an international scientific-practical conference in Bukhara, focusing on enhancing deposit insurance systems and ensuring public confidence.

According to Azeri-Press news agency, the conference titled "Institutional Strengthening of Deposit Insurance Systems Risk Assessment, Preventive Preparedness for Bank Failures and Ensuring Public Confidence," aimed to optimize financial risk management and enhance compensation mechanisms. The event was organized by Uzbekistan's Deposit Guarantee Agency.

The memorandum lays the groundwork for developing institutional relations and expanding information exchange while respecting confidentiality. It also aims to improve compensation mechanisms, introduce digital financial technologies, and undertake joint initiatives in deposit insurance.

The Azerbaijani delegation, including key figures from ADIF, participated in thematic sessions discussing risk-based insurance mechanisms, financial sustainability, and digitalization of compensation processes. Presentations highlighted Azerbaijan's legal and regulatory framework for deposit insurance and outlined strategies for enhancing institutional activities.

The conference concluded with a commitment to deepen cooperation among deposit insurance organizations, foster knowledge exchange, and introduce innovative solutions in the financial sector. This engagement on international platforms aids in integrating advanced practices into Azerbaijan's national systems and strengthens its international legal cooperation capacity.