Baku: The Central Bank (CBA) of the Republic of Azerbaijan has become an observer member of the Global Financial Innovation Network (GFINN) to develop digital financial solutions and promote innovation.

According to Azeri-Press News Agency, this membership will allow the Central Bank to engage in the Network’s initiatives and collaborate with leading global regulators and innovators. The experience gained will help the Central Bank align technological developments in the financial sector with international standards and enhance the stability of financial markets.

The Global Financial Innovation Network is an international organization that includes financial regulators, central banks, international organizations, and other institutions related to financial technology. It aims to foster and advance innovations in the financial sector.